Prices of Natural Gas in Europe Increase  by 36%, Fearing Russia's "Disruption of Supplies"

Natural gas prices in Europe rose sharply on Monday, after another round of international sanctions against Russia over the weekend, which raised concerns about an energy supply shortage.

Futures prices jumped by 36 percent on Monday, after Western countries agreed to impose new sanctions on Russia over its own military operation in Ukraine according to Bloomberg.

Although the latest package of sanctions excludes the energy sector, it has created fears of disruption to energy flows, especially if Moscow decides to retaliate by cutting supplies, the US  agency warned.

Europe relies on Russia for about a third of its gas needs, and many of those shipments flow through transit pipelines from Ukraine.

Experts indicate that any disruption could leave Europe frozen in winter and limit electricity production on the continent, forcing energy-intensive industries such as metal smelters and fertilizer makers to slow or stop production.