EU agrees gas demand curbs; IMF downgrades global economic forecast

EU countries confirmed an emergency plan this week to curb gas demand in anticipation of further cuts to supply by Russia, albeit one watered down from the initial 15 per cent proposed cut suggested last week following opposition from some Member States. Russian state-owned gas company Gazprom said it would cut flows through the Nord Stream 1 pipeline to Germany, with a spokesman for the Kremlin claiming that the cuts were necessary as a gas ...