In the fall of last year, things were looking beyond grim for the European energy market. Coming on the heels of extreme energy market volatility caused by the enduring Covid-19 pandemic, Europe’s single-biggest energy trade partnership collapsed. When Russia – which was providing about 40% of the European Union’s natural gas at the time – illegally invaded Ukraine, energy markets quickly descended into chaos. In the immediate wake of the invasion last February, Europe strongly and vocally condemned Russia’s…
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