GAIL feels blowback from Ukraine war as former Gazprom unit cuts supplies

A former Gazprom subsidiary reneges on its supply contract forcing the state-owned gas distributor to cut back supplies to key industries

On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.

Blowback from this gas crisis is finally having an impact on India, too, as Europe started