Thousands of jobs have been put at risk after Ineos suspended operations at three of the UK’s biggest chemicals plants, as owner Jim Ratcliffe took aim at “ridiculously high” energy prices in the UK.

The three plants which are being idled produce the raw materials for pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosives and support almost 4000 highly skilled jobs in Humberside.

Ratcliffe said: “I’m sure people will find it hard to believe that we are being forced to mothball some of the most efficient plants in Europe but with gas prices now 12 times the level in the US and 8 times that of China, we just cannot compete.

“Not only is the ridiculously high gas price in the UK destroying our manufacturing base and the jobs of hard-working people on Humberside, it is also massively increasing the environmental burden with replacement products supplied from the USA at double the carbon emissions and from China at 8 times the emission level.

“The UK government’s energy policy is leading to economic vandalism on an industrial scale, exporting jobs to China and the United States and driving up global CO2 emissions at a stroke.”

The move adds Ineos to a growing list of UK manufacturers and major industrial businesses that have shuttered operations since the start of last year as they buckle under the weight of soaring energy costs.

Earlier this month, the government laid out plans to nationalise Speciality Steel UK (SSUK) from failure, a matter of weeks on from a similar move to take ownership of Scunthorpe’s British Steel.

In June last year, Associated British Foods confirmed plans to shut its Yorkshire bioethanol plant despite the government entering formal negotiations to rescue the site. That came after Sabic’s chemicals plant on Teesside unveiled plans to close on the same week.