Euro in Danger Amid Italian Elections: Will Russia Terminate Nord Stream 1?

PIPELINE FOR NORD STREAM 1

As the effects of the crisis in Ukraine continue to spread throughout the European continent, natural gas futures prices have been rising. Recently, the operator of the Nord Stream 1 pipeline in Russia, Gazprom, cut natural gas shipments to Europe by 40% while performing regular maintenance on the network.

The corporation recently said that it will reduce even that capacity by half, citing challenges finding turbines as well as technical legal issues brought on by penalties. Currently, only 20% of the pipeline’s capacity is anticipated to be used for gas flow. To put things in perspective, around 40% of Europe’s gas and 30% of its oil come from Russia.

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#euro #italyelections #usdollar #usd #eur #russia #forexnews #nordstream1 #edgeforex

 

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