European gas prices rose on Wednesday after Putin’s speech, in which he announced a partial military mobilisation and promised to incorporate Ukrainian territories. At the leading gas exchange, the gas price rose by more than 9 percent, to 212 euros per megawatt hour.

In recent weeks, the price of gas has been on the decline. In August, the gas price reached its peak, with prices well above 300 euros per megawatt hour.

High energy prices have brought the European economy to the brink of recession. However, the European gas reserves have now been filled to 86 percent. That will give air if the Russian supply of gas falls further. The significantly increased import of liquefied natural gas (LNG) by ship also helps.