Recession looms after UK economy shrank in March Germany gas supply drops as Ukraine shuts off pipes from Russia FTSE 100 drops 1.6pc after GDP fall Tom Stevenson: How to turn a profit in the post-Covid market Sign up here for our daily business briefing newsletter Germany's economy minister has accused Russia of "weaponising" energy supplies as he described new sanctions imposed by the Kremlin as an escalation. A subsidiary of Gazprom that was seized by Germany last month is no longer receiving gas supplies from Russia after Moscow launched a retaliation against European sanctions. Robert Habeck said the move showed Russia was using the stand-off over energy as a "weapon", adding that it seemed designed to drive up prices. European natural gas prices surged 22pc amid the clash, with markets also rattled by a drop in Russian supplies after Ukraine was forced to shut a key transit point as a result of the war. Still, Mr Habeck downplayed the impact of the new sanctions, saying Germany was receiving gas from alternative sources and could cope with the disruption. 6:05PM Wrapping up T hat’s all from us, thank you for following! We will see you tomorrow, but before you… Read full this story
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