WASHINGTON, Sep 22 – PRIME The US is less affected by rising energy prices than European consumers, US Treasury Secretary Janet Yellen said Thursday.
“Energy prices have soared in Europe. The winter will be really hard for them. Of course, we see the consequences, but we are not as affected as they are,” she said during a speech at the Atlantic Festival conference.
“We are working closely with our European neighbors to find alternative supplies. I believe they can (handle),” Yellen added.
The head of the Ministry of Finance also noted that despite the US trade with Europe, “we should not exaggerate” the impact of the economic situation in the EU on the US economy.
In early March, gas prices in Europe, due to fears of a ban on the import of Russian energy resources, updated their historical highs for four days in a row. The price record of $3,892 per thousand cubic meters was reached on March 7.
Gas prices continue to be under pressure due to the uncertainty with supplies from Russia. Despite the decline in recent days, they are several times higher than last year’s levels, when prices were already record highs. The latest explosive growth at the end of August was associated with Gazprom’s announcement that the Nord Stream gas pipeline was suspended for three days for scheduled maintenance. Quotes jumped above 3500 dollars per thousand cubic meters and updated historical records of the settlement price several times.