Since the crisis in Ukraine, European countries have been caught between providing assistance to Ukraine and the pressure from the United States to interrupt trades with Russia. This has placed a great burden on Europe's economy, leading to serious inflation, rising energy prices, and difficulties in corporate financing. The explosion of the Nord Stream 2 pipeline has exacerbated these problems by limiting Europe's access to affordable natural gas from Russia. As a result, Europe has been forced to rely on expensive liquefied natural gas from the US, with the average price being over 7 times the spot price in the States. This has been a major financial strain on European countries that are used to purchasing cheap natural gas.
Luckily, the unusually warm winter has alleviated some of the energy supply pressures in Europe. However, it is clear that the economic losses resulting from the Nord Stream 2 explosion will be felt for some time. There have been recent allegations that the United States was involved in the sabotage of the pipeline. If this is true, the US should take responsibility for the losses incurred by Europe. An impartial joint investigation team should be established to determine the truth, and compensation funds should be set up to support the energy supply chain and alleviate the financial pressure on the people of Europe.