Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Business Russian gas pipeline

Russian gas pipeline closed. (Photo by Stefan Sauer/picture alliance via Getty Images)

By Savannah Young Leaders Staff

Savannah Young

Savannah Young

News Writer

Savannah Young is a news writer for Leaders Media. Previously, she was a digital reporter for WATE Channel 6 (ABC)...

Full bio


Learn about our editorial policy

Sep 2, 2022

Beware the Closing of the Russian Pipeline

Russia is continuing the closure of a major gas pipeline which could cause issues for many European countries.

Key details
Russia announced it is fully closing the key Nord Stream natural-gas pipeline for maintenance. 

The pipeline is owned by energy company Gazprom PJSC. The company said it found a technical fault within the pipeline that connect Russia and Germany, and it will remain shutdown until it is fixed. 

It is unsure when that time will be.

Why it’s important
The timing of the announcement seem like the delay might be retaliatory. Earlier on Friday, finance ministers for the Group of 7 countries announced plans to place a price cap on Russian oil.

In Europe, governments are rationing energy and urging companies to put energy saving plans in place. French Prime Minister Élisabeth Borne is continuously warning companies of the incoming energy ration.

Borne said the government was working with industry organizations to help limit the impact of the potential rationing and is preparing measures to help support the companies that are impacted the most.

The shutdown of this pipeline will cause Europe to hurry these plans along and become totally independent from Russia.

Backing up a bit
Russia has been slowly being phased out by the U.K. amid its invasion of Ukraine.

In June, five months into Russia’s invasion of Ukraine, the U.K. imported no fuel from Russia for the first time ever recorded. The U.K. government has planned to phase out all Russian purchases of natural gas and oil after its invasion of Ukraine, and June was a success.

Before Russia invaded Ukraine, they were the number one supplier of refined oil for the U.K. Russia accounted for 24.1% of all imports of refined oil as well as 5.9% of the UK’s crude oil imports, and 4.9% of gas imports. 

The U.K. phasing out Russian imports is one of the leading factors of its incoming energy rations.

Home / News / Beware the Closing of the Russian Pipeline
Share
FacebookTweetEmailLinkedIn

Related Stories

Fortune 500 Reveals Economic Changes 

by Hannah Bryan Leaders Staff
Wealth

5 hours ago

Fortune 500

Fortune released its annual list of the 500 largest companies in the U.S., revealing the continued success of many big names along with a few changes.

Key Details

  • The 69th annual Fortune 500 list, which ranks the 500 largest companies in the U.S. by revenue, revealed that Walmart still tops the list. 
  • While companies like Walmart have remained at the top of the list for over a decade, this year’s list shows that oil companies are rising again after a brief dip.
  • Healthcare companies are also rising, urged on by growing demand for pharmaceuticals and healthcare needs, Fortune reports. 
  • The report also found that companies on the list are increasingly located in Texas and leaving California and New York. 

Go deeper

FacebookTweetEmailLinkedIn

YouTube To Permit Election-Fraud Claims 

by Tyler Hummel Leaders Staff
Social Media

6 hours ago

YouTube, the world’s largest video-sharing website, has announced that it will widen its policies to permit controversial political speech during the upcoming election cycle. 

Key Details

  • On June 2, YouTube announced in a blog post that it will be scaling back on its policy to suppress “election misinformation” as the 2024 election season approaches. 
  • YouTube says that it has re-evaluated its policies and realized that curbing misinformation came at the expense of harming political speech and having little effect on reducing real-world issues in the process. 
  • The platform will continue to prioritize authoritative sources and punish sources that purposely mislead voters with claims that discourage eligible voters or misdirect them on how to vote. The platform will also continue suppressing hate speech, violence incitement, and harassment.

Go deeper

FacebookTweetEmailLinkedIn

Apple’s Vision For the Future

by Hannah Bryan Leaders Staff
Tech

6 hours ago

At Apple’s World Wide Developers Conference, the company unveiled updates to its iMac, iPhone, iPad, and Apple Watch models, but the announcement with the most buzz was the unveiling of the Apple Vision Pro.

Key Details

  • On Monday, Apple announced updates to its current iMac, iPhone, iPad, and Apple Watch models, including changes to voicemail options and data processing. 
  • However, tech enthusiasts eagerly awaited Apple’s long-promised virtual-reality headset unveiling. 
  • The Apple Vision Pro is an augmented-reality headset that Apple CEO Tim Cook will usher in a new era of spatial computing. It will be available for sale early next year for $3,499.
  • The device allows the user to do many of the same tasks he would perform on his laptop on a virtual screen.
  • Apple promoted the product for various uses, including in the office, working remotely, watching movies, and gaming. 
  • “So in the same way that Mac introduced us to personal computing and iPhone introduced us to mobile computing, Apple Vision Pro will introduce us to spatial computing,” Cook says.

Go deeper

FacebookTweetEmailLinkedIn
pickleball
Entertainment

7 hours ago

America’s New Favorite Pastime

by Hannah Bryan Leaders Staff
Markets

8 hours ago

Driving Down the Price Of Eggs 

by Tyler Hummel Leaders Staff
manufacturing
Productivity

8 hours ago

A Strategic Push To Manufacture In the U.S.

by Hannah Bryan Leaders Staff

Recent Articles

Personal Growth

12 hours ago

The Executive’s Secret Weapon: Morning Meditation for Increased Productivity and Focus

Learn why leaders and executives practice morning meditation for performance.

Leadership

Jun 1, 2023

Transforming Impulsive Behavior: Unleashing the Disciplined Leader Within

Impulsivity can cause financial problems, reputation damage, and legal issues.

Leadership

May 31, 2023

Self-Sacrificing and Hate Attention? You May Be an Echoist, the Opposite of a Narcissist

An echoist, the opposite of a narcissist, is selfless, but lacks boundaries and self-esteem.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com

x