India, March 6 -- European gas markets were thrown into fresh turmoil this week as prices surged sharply following a sudden disruption to global liquefied natural gas supplies, intensifying concerns about the continent's long-term energy security and prompting warnings from Russian officials that the European Union is entering what they describe as a period of "energy collapse."

Kirill Dmitriev, chief executive of the Russian Direct Investment Fund (RDIF) and a special presidential envoy for international economic cooperation, said the EU's energy strategy, particularly its decision to move away from Russian supplies, has left the bloc increasingly vulnerable to external shocks in global energy markets.

"This is the dawn of a new era, t...