US pledges support as blame shifts to Russia

THE US yesterday vowed to back European countries suffering from soaring energy prices as blame for the crisis shifted to supply restrictions from Russia.

US energy secretary Jennifer Granholm said America would ‘stand up’ to market players ‘manipulating supply to benefit themselves’. She said: ‘We want to all have our eye on the issue of any manipulation of gas prices by hoarding or the failure to produce adequate supply.’

During a visit to Warsaw, she stressed: ‘We are united with our European allies in making sure you get adequate, affordable gas supply this winter.’

Fears of an energy crisis across Europe have been ratcheted up by moves by Russian gas giant Gazprom to limit supplies. These moves, combined with low stocks, have sent natural gas prices rocketing in recent months.

Russia is the biggest supplier of gas to Europe, accounting for 40 per cent of imports – a fact that has led to calls for less reliance on Russian energy.

Earlier this week, the International Energy Agency called on Russia to ‘do more to increase gas availability to Europe’.