Financial Times FT.com

Russia exerts its power

By Miriam Elder

Published: October 31 2008 15:22 | Last updated: October 31 2008 15:22

As Russia hurtled through one of its most tumultuous summers on record, it was the second week in July that brought to a head the twin fears that underlie Europe’s view of Moscow’s ability to act as a reliable energy supplier.

First, Transneft, the state-run pipeline monopoly, cut oil shipments to the Czech Republic by half. Russian officials cited technical reasons, but Czech officials worried that the cut was a means of punishing Prague for signing up to US missile defence plans two days before.

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