• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

2

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave

3

Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google

1

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

2

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave

3

Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
FinanceRussia
Europe

Russia’s Gazprom threatens to cut last remaining supply of natural gas to Europe

By
Stephen McGrath
Stephen McGrath
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Stephen McGrath
Stephen McGrath
and
The Associated Press
The Associated Press
Down Arrow Button Icon
November 22, 2022, 2:17 PM ET
Vladimir Putin
Russian President Vladimir Putin.Sergei Bobylyov—SPUTNIK/AFP/Getty Images
Add Fortune on Google for similar content.

Russian energy giant Gazprom has threatened to reduce natural gas supplies through the last pipeline heading to Europe via Ukraine, saying the amount it’s supplying for Moldova is not ending up in the former Soviet republic.

Gazprom says the gas company of Europe’s poorest country, Moldovagaz, paid for part of its November flows of gas under its contract. It added that nearly 25 million cubic meters has been supplied this month but not paid for.

The Russian state-owned company tweeted that if “the imbalance observed during the transit of gas to the Moldovan consumers across Ukraine continues,” Gazprom “will start reducing its gas supplies” through Ukraine starting Monday.

Both Moldova and Ukraine hit back at Gazprom, with Ukraine saying all supplies that Russia sent through the country were “fully transferred” to Moldova.

“This is not the first time that Russia resorts to using gas as a tool of political pressure. This is a gross manipulation of facts in order to justify the decision to further limit the volume of gas supplies to European countries,” said Olha Belkova of the Gas Transmission System Operator of Ukraine.

It’s the latest escalation after Russia has cut off most natural gas flows to Europe amid the war in Ukraine, which European leaders have called energy blackmail and Gazprom has blamed on maintenance and payment issues. Besides the pipeline through Ukraine, one other pipeline is still bringing Russian gas beneath the Black Sea to Turkey.

Heading into winter when natural gas is needed to heat homes as well as generate electricity and power factories, any reductions in supplies could mean higher prices, which have been fueling inflation and squeezing households and businesses. Natural gas prices have fallen since August peaks and European nations have been able to fill their storage capacity for winter, but the crunch could worsen if the weather turns out to be colder than normal.

The energy crisis has hit Moldova especially hard, with Russia halving its natural gas supply and Moscow’s attacks on Ukraine’s energy infrastructure triggering massive blackouts in several cities in the former Soviet republic.

Moldova relied heavily on Russian energy before the war and its Soviet-era energy systems remain interconnected with Ukraine, which is why the missile barrages set off the automatic shutdown of a supply line and caused the lights to go out temporarily.

With energy prices and inflation already high, the threat of a loss of further energy supplies to Moldova could leave consumers scrambling to pay their bills in the country of about 2.6 million.

Simone Tagliapietra, an energy policy expert at the Bruegel think tank in Brussels, pointed to a recent meeting between Moldovan President Maia Sandu and European Commission President Ursula von der Leyen about energy assistance, noting that leaders who visited Kyiv earlier in the war to show their support had their gas cut off subsequently.

“Maybe they are following the same plot,” Tagliapietra said of Russia. “It looks like an act of despair for them. They are running out of energy weapons.”

He said one motive could be to put pressure on the EU by forcing it to drum up financial support for Moldova.

An international aid conference in Paris co-chaired by France, Germany and Romania raised more than 100 million euros ($102 million) on Monday to support Moldova. Earlier this month, the European Union also pledged the country 250 million euros (nearly $256 million) in aid.

Moldova’s office of reintegration policies said in a statement that the energy crisis in the country — including Transnistria, a Russia-backed breakaway region — “was not caused by Chisinau, but by the unjustified decisions of the Russian company Gazprom.”

Moldova’s statement was a response to accusations Tuesday by Transnistria, in which de-facto authorities alleged in a letter addressed to the United Nations and the Organization for Security and Co-operation in Europe that Moldova’s pro-Western leaders are responsible for energy shortages in the breakaway state.

“The only solution for overcoming the crisis is the resumption of the supply of natural gas by Gazprom in the quantities provided by the contract in force,” Moldova’s statement read, adding that Transnistria’s accusations were designed “to mislead public opinion and external partners.”

“Possibly preparing the ground for a new challenge, which could endanger the fragile stability which we have managed to maintain until now.”

Moldova became a candidate for EU membership in June, the same day as Ukraine.

Our new weekly Impact Report newsletter will examine how ESG news and trends are shaping the roles and responsibilities of today's executives—and how they can best navigate those challenges. Subscribe here.

About the Authors
By Stephen McGrath
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current ARM mortgage rates report for July 17, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for July 17, 2026
By Glen Luke FlanaganJuly 17, 2026
3 hours ago
Current refi mortgage rates report for July 17, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for July 17, 2026
By Glen Luke FlanaganJuly 17, 2026
3 hours ago
Mortgage rates today, July 17, 2026
Personal Financemortgages
Mortgage rates today, July 17, 2026
By Glen Luke FlanaganJuly 17, 2026
3 hours ago
How Apollo-owned Michaels turned two rivals’ bankruptcies into a growth strategy
Healthchief executive officer (CEO)
How Apollo-owned Michaels turned two rivals’ bankruptcies into a growth strategy
By Phil WahbaJuly 17, 2026
3 hours ago
Trump sits in the Oval Office, speaking and gesturing with both his hands.
EconomyTariffs
U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
By Sasha RogelbergJuly 17, 2026
3 hours ago
Airbnb CEO Brian Chesky’s X account was hijacked in an AI slop hack pushing crypto tokenization
CybersecurityTech
Airbnb CEO Brian Chesky’s X account was hijacked in an AI slop hack pushing crypto tokenization
By Rachel VentrescaJuly 16, 2026
12 hours ago

Most Popular

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
C-Suite
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
By Fortune EditorsJuly 15, 2026
2 days ago
26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave
Law
26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave
By Barbara Ortutay, Alexandra Olson and The Associated PressJuly 15, 2026
2 days ago
Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
Big Tech
Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
By Mia OsmonbekovJuly 16, 2026
14 hours ago
Trump's 'American Flag Blue' in the Lincoln Memorial pool is already gray — and the Olympic canoer 'vandal' is fighting his arrest
Politics
Trump's 'American Flag Blue' in the Lincoln Memorial pool is already gray — and the Olympic canoer 'vandal' is fighting his arrest
By Matthew Daly and The Associated PressJuly 16, 2026
21 hours ago
JPMorgan CEO Jamie Dimon says 300,000 workers are needed to rebuild American shipbuilding—with jobs paying $100,000 without a college degree
Success
JPMorgan CEO Jamie Dimon says 300,000 workers are needed to rebuild American shipbuilding—with jobs paying $100,000 without a college degree
By Preston ForeJuly 16, 2026
19 hours ago
Current price of oil as of July 16, 2026
Personal Finance
Current price of oil as of July 16, 2026
By Joseph HostetlerJuly 16, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.