The vast deposits around the northern Yamal Peninsula will play a crucial role in the nation’s energy future, the company has said Russia has huge natural gas reserves that could last for more than a century, the head of state-owned Gazprom, Alexey Miller, said on Wednesday at the International Business Congress.

Inflation in the Eurozone spiked to a record high of 9.1% in August, according to flash figures from Europe’s statistics office, Eurostat, published on Wednesday. The indicator overshot analysts’ expectations of a 9% rate.

The bloc’s criticism of Russia-China cooperation in the Arctic underlines its Cold War mentality, the Foreign Ministry said NATO’s claims that cooperation between Beijing and Moscow in the Arctic represents a ‘challenge’ signals that the alliance is still dwelling in the Cold War, Foreign Ministry spokesman Zhao Lijian said on Wednesday.