Russia chokes gas flow, Germans fear ‘Lehman Moment’

Russia has cut the flow of gas via the Nord Stream 1 pipeline to 40% of capacity, prompting a warning of a “Lehman Moment” in Europe’s energy market – a reference to the September 2008 bankruptcy that triggered a global financial crisis.

Russia’s June 22 action came two days after Lithuania blocked rail deliveries of sanctioned goods to Russia’s Baltic Sea enclave of Kaliningrad, citing European sanctions on the transshipment of Russian shipments of coal, metals, electronics, construction materials and other goods.

Lithuania claims that it has not restricted the shipment of food and medicine.

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