Concerns about gas supplies cast a shadow over European shares

European stocks started the second quarter of the year on a cool note, as investors were gripped by worries about economic growth and inflation as Europe waited for a deadline to start paying for Russian gas in rubles.

Russian President Vladimir Putin has threatened to cut gas supplies unless they are paid for in local currency from April 1, a move that could exacerbate an energy crisis on the European continent, where Russian gas imports account for about 40 percent of consumption.

The pan-European Stoxx 600 index was stable by 0708 GMT, as gains in sectors such as banks, healthcare companies and consumer goods were offset by losses in technology and oil shares.

Crude oil prices were affected after the United States announced the release of the largest ever amount of its strategic reserves and called on oil companies to increase exploration, as it hopes to control prices that rose at one point by more than 40 percent to $139 a barrel after Russia launched an offensive. on Ukraine.