European natural gas prices are approaching a two-week high point, as the United States threatens to punish buyers of Russian energy.

Due to US President Trump threatening to punish India for buying Russian energy, concerns about global supply prospects have arisen, causing European natural gas prices to reach a two-week high. As Trump increases pressure on Russia and Ukraine to reach a ceasefire, traders have anticipated that the US may take action against Russian oil and gas buyers including India. Trump warned on Tuesday that if Russia does not reach a ceasefire agreement within 10 days, the US will take "tariffs and other measures." Earlier, natural gas prices briefly fell as Polish Prime Minister Tusk indicated a new prospect of Russia stopping its ongoing invasion of Ukraine.