Russian President Vladimir Putin said the EU is damaging its own economy by rejecting Russian energy supplies and cancelling long-term contracts, speaking at the 8th Gas Exporting Countries Forum summit in Moscow on October 27. He also accused Europe of hypocrisy, noting its modern economy was built on coal and hydrocarbons while it now restricts developing countries from using them. The article says European gas prices hit their highest level since December 2022 on October 26, briefly topping 97 euros (108 USD) per megawatt-hour, amid supply disruptions linked to the Iran war and colder weather forecasts. Germany, Europe's largest industrial economy, suffered two consecutive years of recession in 2023 and 2024, and its industry is losing about 15,000 jobs a month, according to a July 2026 warning from the Federation of German Industry. Rising living costs and stagnant wages have also sparked protests in France, Belgium, Italy and other countries.
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Original headline: Tổng thống Putin: EU đang tự chôn vùi nền kinh tế của chính mình
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natural gasEuropeRussiageopoliticsenergy security
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Related tickers and likely impact
EUR/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/27/2026 | 1.11268 |
| Change that session | -0.43% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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