Italian President Sergio Matterelli called for “urgent European action” to overcome the energy crisis.

Trade data showed that gas prices in Europe rose to around $3,400 per 1,000 cubic meters of gas, the highest level since March last year, in light of fears of a harsh winter, economic disaster and Europe’s apparent inability to find an alternative to Russian energy resources.

The UK previously announced that it would raise citizens’ energy prices by 80 percent from October next year, leading to higher inflation and economic stagnation amid the cost-of-living crisis affecting the UK and EU countries.

As for other countries, such as Bulgaria, the Russian company Gazprom was again contacted after deliveries were cut off due to the previous government’s refusal to pay in rubles.

Earlier, Russian President Vladimir Putin pointed out that “Russia’s oil, gas and non-oil revenues are growing, despite the obstacles that bad people and envy are working to create in front of the country.”