Russia blames sanctions for gas pipeline shutdown

Russia has warned that it will not resume gas supplies along a key pipeline to Europe until sanctions are lifted.

Moscow has blamed Western countries for its decision not to reopen the Nord Stream 1 pipeline after it was shut for three days for maintenance.

When asked if supplies would resume pumping if sanctions were eased, a Kremlin spokesman said: "Definitely".

Gas prices soared on Monday due to mounting concerns over energy supplies.

The Dutch month-ahead wholesale gas price, a benchmark for Europe, was up as much as 30% in early trading on Monday. Prices in the UK rose as much as 35% before winding back to £4.50 per therm. read more