Germany—Government Announces Energy Crisis

The German government has formally announced an energy crisis, implementing the second phase of its gas emergency crisis in an effort to preserve supplies, reports CNN. The move comes after Russian state energy firm Gazprom reduced flows through the Nordstream 1 pipeline last week by 60 percent. Gas flows to Italy have been reduced 15 percent. Moscow previously cut energy supplies to Poland, Bulgaria and Finland, and to energy companies in Denmark, Germany and the Netherlands that...