Earlier in the week, Medvedev predicted that the price of gas in the EU could reach $4,000 per thousand cubic meters by the end of 2022.
"In connection with the increase in gas prices to 3,500 euros per thousand cubic meters, I am forced to increase the forecast price to 5,000 euros by the end of 2022," Medvedev wrote on Telegram.
Prices for natural gas in Europe approached record values against the background of limited supplies from Russia, according to data from the London-based ICE exchange and gas transmission operators. The estimated price of gas futures for delivery in September (TTF hub) amounted to $3,507 on August 26, marking a record value for the entire operation of gas hubs in Europe since 1996. The weekly figure increased by nearly $1,000, or 40%. At the same time, gas quotes on Friday reached $3,525, taking another step towards updating the all-time high of $3,892.
In response to the special operation in Ukraine, Western countries have rolled out a comprehensive sanctions campaign aimed, in particular, at Russian energy resources.