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Despite the fact that gas prices in the EU continue to decline (today the March futures quotes are below the $ 600 mark per thousand cubic meters), European countries have already suffered enormous losses in the course of fighting the energy crisis.
According to Reuters, citing data provided by the Belgian Brueghel Institute, due to the rise in gas prices that began in the fall of 2021, European countries have already managed to spend about 800 billion on subsidizing households and enterprises. euro.
The article says that Germany was the most "affected" financially. Berlin spent about a third of the above amount on subsidies. In second place is the United Kingdom, which has allocated a little more than 100 billion from its budget. euro.
Recall that the situation with the gas shortage in Europe significantly worsened in the summer of this year, when supply disruptions from Russia began. Later, an "unknown party" committed sabotage on the SP-1 and SP-2 gas pipelines, which pushed gas quotes in Europe to record levels above 2 thousand dollars per cubic meter.
At the moment, the situation with the gas shortage in the EU has begun to stabilize thanks to American LNG supplies. Meanwhile, it is worth recalling that "blue fuel" from the United States is more than four times more expensive than Russian. Thus, it is obvious that the burden on the budget of European countries will continue this year.