Russia will close the Nord Stream methane-based gas pipeline for 10 days on Monday. The annual maintenance β€” routine in normal times β€” is ratcheting up fears the country waging war and committing horrific atrocities in Ukraine since late February will shut off gas supplies for good. A “total cut-off of Russian gas [is] the most likely scenario today,” French Finance Minister Bruno Le Maire told reporters Sunday. Christian Kullmann, CEO of the German chemical firm Evonik Industries AG, agreed, telling Bloomberg that β€œIt would be naive and starry-eyed not to be worried.”

In some parts of Germany, where the largest gas importer is requesting a government bailout, hot water is being limited, traffic lights are being turned off at night, and air conditioning is being turned down to reduce energy consumption. Europe’s skyrocketed demand for liquified methane-based gas, including from Africa while calling on countries there not to burn gas, has global ramifications. European countries are out-bidding nations around the world unable to pay premium prices, like in Pakistan and Bangladesh where government-imposed blackouts last for hours every day. (Nord Stream shutdown: Bloomberg $, Wall Street Journal $, New York Times $, Wall Street Journal $, AP, explainer*; French minister: Bloomberg $; German conservation measures: Fortune, FT $, The Guardian; Oil and coal: Reuters, The Guardian, Washington Examiner; Global market impacts: Wall Street Journal* $; Africa: Bloomberg $; German energy bailouts: Wall Street Journal $, New York Times $, CNBC)