Spanish Prime Minister Pedro Sanchez blamed Russian President Vladimir Putin on Wednesday for the surge in energy prices.
"Inflation and the prices of energy are the sole responsibility of Putin and his illegal war in Ukraine," Sanchez claimed. He added that European Union sanctions against Russia were necessary as "the cost of not acting" would be even greater for Europe. Sanchez insisted the Spanish government will protect the industry from the "energy blackmail that Putin is inflicting on the European economy."
Crude prices soared 40% over the last month, while natural gas prices skyrocketed more than 150% in the same period.
