Comments from German Economy Minister and Vice-Chancellor Robert Habeck speaking at a presser. Habeck states that the 'gas situation is escalating' and that Russia is 'weaponising energy'.

• Says that Russian move cuts gas supply by 10m cubic metres/day. Gas storage levels in Germany approaching 40% capacity.
• Habeck says gov't is taking steps including financial assistance to stabilise the situation. German firms working on solutions to substituting Russian gas.
• Won't raise alert level today, but situation is in flux and could change rapidly.
• No signs Russian gas to rest of Europe dropping, will have more of an idea tomorrow.
• Russian sanctions mean German firms must find new gas contracts elsewhere at higher prices, state will help.
• Says sanctions designed to allow gas to continue to flow through Nord Stream pipeline.
• Says public and industries should begin reducing gas consumption.

Habeck's comments come as tensions spike further between Russia and West over Finland's impending NATO application. There has been significant concern that Russia would restrict gas supplies further to 'unfriendly nations'. Poland and Bulgaria previously hit by full cut-off of gas, rather than reductions.