Russia is using its gas and energy resources to 'blackmail' Europe, says Germany's economy minister

• Russia is wielding its energy influence to blackmail Europe, Germany's economy minister said Thursday, per the Financial Times.
• The Nord Stream 1 pipeline returned online Thursday, but at 40% capacity, which is about what it was before its maintenance period.

Germany's economy minister and vice chancellor Robert Habeck said Russia is using its influence and resources as an energy producer to blackmail Europe and Germany amid the oil and gas crisis stemming from the war in Ukraine.

"Russia as an energy supplier has become unreliable," Habeck said Thursday, according to the Financial Times. "It is using its great power...to blackmail Europe and Germany."

His comments follow Russia's move to resume gas supplies through the Nord Stream 1 on Thursday, though EU officials remain skeptical as to how long those supplies will continue or at what capacity.

President Vladimir Putin has already warned that pipeline deliveries could be slashed further. Even before the Nord Stream 1 was shuttered for maintenance, flows to Europe were moving at only 60% capacity, with Moscow citing technical snags.

At the time, German officials said Russia was "weaponizing" its energy exports to push prices higher.

Habeck Thursday maintained that having the key pipeline back online doesn't eliminate concern, and noted that only 40% of flows had resumed — which is about the same amount as had been flowing before the maintenance.

"Just because 40 per cent of flows have now resumed, we should not lull ourselves into a false sense of security that [supply] will be stable from now on," Habeck said. "On the contrary, we should expect . . . them to find some reason to . . . interrupt or reduce the flow of gas again in the future."

One commodity analyst said Thursday that Putin doesn't want Europe to build its gas reserves ahead of winter, and instead aims to keep the continent in a state of panic.

The return of Nord Stream 1 flows, while limited, eased fears that Russia would cut off supplies entirely. European Union policymakers have already proposed a 15% cut to gas consumption that could be mandatory.

European benchmark gas prices rose slightly Thursday after Nord Stream 1 returned online.