EU leaders on Friday warned that “cheap energy is gone” and agreed to boost preparations for further cuts in Russian gas, accusing Moscow of “weaponizing” energy via a supply squeeze which Germany warned could partly shut its industry. “The notion of cheap energy is gone, and the notion of Russian energy is essentially gone, and we are all in the process of securing alternate sources,” Latvian Prime Minister Krisjanis Karins said. Governments must “support those portions of society that suffer the most”, he added. According to a draft summit statement seen by Reuters, leaders of the 27 EU nations will place the blame for a massive spike in prices and sagging global growth on the war that began exactly four months ago. Following unprecedented Western sanctions imposed in response to the invasion and a refusal to pay for energy in roubles as the Kremlin had demanded, a dozen European countries have been hit by cuts in gas flows from Russia. Even some that did pay in Russian currency found their supplies dwindling. “It is only a matter of time before the Russians close down all gas shipments,” said one EU official ahead of Friday’s talks. German Economy Minister Robert Habeck warned his country was heading for a gas shortage if Russian supplies remained as low as they currently are, and some industries would have to close come winter. “Companies would have to stop production, lay off their workers, supply chains would collapse, people would go into debt to pay their heating bills,” he told Der Spiegel magazine. He added that it was part of Russian President Vladimir Putin’s strategy to divide the country. The EU relied on Russia for around 40pc of its gas needs before the war. Some countries, however, were much more reliant. For instance, Germany relied on Russia for 55pc of its gas, leaving a considerable gap to fill in an already tight global gas market. Inflation was the primary concern during talks on the EU’s economic situation between leaders on Friday morning. Still, there were also positive comments about growth and the summer tourism season, an EU official said. Inflation in the 19 countries that use the euro has shot to all-time highs of above 8pc, and the EU executive expects growth to dip to 2.7pc this year.