Putin cancels new natural gas pipeline to Europe in a surprise move -Washington Post

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“The cancellation appeared to end an era, at least for now, in which Russia pursued grand, expensive infrastructure projects in Europe that gave it political clout through energy supplies. The decision follows a drop in the price of oil by more than 30 percent since the summer, starving Russia of revenue and forcing it to curtail its economic ambitions.”

http://www.washingtonpost.com/world/europe/putin-cancels-new-natural-gas-pipeline-to-europe-in-a-surprise-move/2014/12/01/c1955c90-73ee-11e4-95a8-fe0b46e8751a_story.html?tid=pm_world_pop