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A European Commission spokesman said on Monday that Russia could pump more gas to Europe via other routes after the Nord Stream 1 pipeline was shut down, but Moscow chose not to.
“If there is a technical problem that hinders supplies via Nord Stream 1, it is possible, if there is a desire, to deliver gas to Europe via other pipelines. This is something we do not see happening,” the spokesman said.
The spokesman added that this behaviour proves that Moscow is using its gas supplies to Europe as a weapon.
Russian gas giant Gazprom has blamed the Nord Stream 1 shutdown on Western sanctions and technical issues.
While European and global markets await the decisions of the European Central and the US Federal Reserve, inflation data appears to have crushed European currencies, while the dollar index ignited to surpass a new peak during Monday’s trading.
The euro fell during Monday’s trading to its lowest level in more than 20 years due to the escalation of the repercussions of the energy crisis that afflicted inflation rates in the euro area.
The main dollar index strengthened its gains against a basket of major currencies during Monday’s trading, after exceeding the previous 20-year peak near levels of 109.5 points.
The main dollar index jumped during these moments by more than 0.45%, reaching levels of 110.27 points against a basket of major currencies, exceeding its highest level in more than 20 years.
The Fed’s hopes of achieving its goal in the face of rising unemployment depend not on workers losing their jobs but because more unemployed people start looking for job vacancies.
European shares fell on Monday after Russia extended a halt to gas flows through the Nord Stream 1 pipeline to Europe, raising concerns about energy prices and growth and prompting governments to announce emergency measures.
The pan-European Stoxx 600 index was down 1.6 percent by 0713 GMT, while the German DAX was down 2.8 percent.
Shares of German utility companies Uniper, RWE and E. ON and BNE are between 3.5% and 11%.
Gazprom announced on Friday that the main pipeline to Germany would remain closed indefinitely while it was expected to restart on Saturday after three days of maintenance.
On Sunday, the Kremlin blamed European politicians for keeping the main gas pipeline closed, saying their economic sanctions had hampered pipeline maintenance.
