The price of September futures on the TTF hub reached $3,507.3 on August 26, which was a record high for Europe since 1996, RIA Novosti reports.

It is noted that the cost of gas increased by about $1,000 per week.

Earlier, Liam Peach, an expert on Russia at the British company Capital Economics, said that Moscow is able to stop gas exports to the European Union for at least a year, without harming the national economy in any way.