MOSCOW, March 2. /TASS/. The price of gas in Europe surged to over $1,600 per 1,000 cubic meters during Wednesday trading, according to data provided by London’s ICE. The total increase in the gas price has reached 15%.

The price of gas futures for April delivery at the TTF hub in the Netherlands went up to $1,607 per 1,000 cubic meters, or 140 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

The price of gas futures has been rising as the US, the EU, the UK and some other countries have slapped sanctions on a number of Russian legal and physical entities after President Vladimir Putin announced a special military operation in Ukraine on February 24 in response to a request by the heads of the Donbass republics.