What is the cost of the energy war between Russia and Europe? | Business and economy

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Russia closes the gas taps of two European countries, while the EU proposes a ban on imports of Russian oil.

Russian President Vladimir Putin follows through on his threat to cut off natural gas supplies to Europe.

The supply to Bulgaria and Poland was interrupted after the two countries refused to pay for the gas in roubles. Other European countries could also be cut off within weeks if they reject Russia’s request.

The European Union called the move “blackmail” and is under pressure to cut the Russian energy cord. The bloc has proposed a complete ban on Russian oil imports by the end of this year.

Meanwhile, the ruble hit a two-year high despite Western sanctions.

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