SQUAWK BOX, THURSDAY 14TH OCTOBER, 2021
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President Vladimir Putin tells CNBC his country is not weaponising gas against Europe but instead blames the U.S. for not addressing supply issues in advance. Putin was speaking at Russia’s Energy Week, where we also spoke to a slew of energy bosses, including BP CEO Bernard Looney who said the current gas crisis can only be resolved with further investment in the sector. Meanwhile, two more UK gas companies - Pure Planet and Colorado Energy – collapse amid the autumn price spike. In Washington, the latest FOMC minutes indicate that U.S. tapering may begin as early as mid-November as annual inflation surges to its highest level for 30 years. Inflation sees highs across the Pacific as well, with Chinese factory gate prices rising at their fastest pace since records began, but CPI is held down by weak pork prices. And U.S. banks kick off Q3 earnings with JPMorgan profits boosted by better-than-expected loan losses.
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