Bloomberg mentioned the impending energy crisis in the EU, saying that the bloc has begun to face difficulties in supplying energy. (Source: Reuters)

The American newspaper said that without Russian gas, Europeans cannot avoid a collapse in the energy sector.

Meanwhile, fuel supplies from Gazprom are dwindling across Europe, while gas reserves in storage facilities are falling rapidly amid a cold autumn and increased use of gas for cooling in the summer due to intense heat.

EU member states have only just come to terms with the consequences of the last energy crisis, which erupted two years ago, and now they are on the verge of the next one.

The escalating conflict in Ukraine has caused gas prices in Europe to rise by around 45%, although they are not expected to reach record levels in 2022. But even current gas prices could have a negative impact on consumers.