Warm winter helps Europe overcome the worst of Russia’s energy squeeze

While a cold snap or delivery disruptions could still throw energy markets into disarray, optimism is growing that Europe can now make it through this winter and next

The European Union is no longer importing coal and crude oil from Russia and gas deliveries have been significantly curtailed. Picture: Andrey Rudakov/Bloomberg

Vladimir Putin’s plans to squeeze Europe by weaponising energy look to be fizzling out, at least for now.

Mild weather, a wider array of suppliers, and efforts to reduce demand are helping, with gas reserves still nearly full and prices tumbling to pre-war levels.