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Europeans Fear Nordstream’s Temporary Outage Could Prove Permanent

RUSSIA
  • The Nordstream pipeline gas flow to Europe has been suspended for annual maintenance works, and is due to resume flow from July 21st onwards. Nonetheless, doubts and concerns remain over the prospect of an extended shutdown of flows into Germany as the Kremlin could flex their influence over the European bloc.
  • Over the weekend, French finance minister La Maire commented on the issue, stating that a gas cutoff is now the most likely scenario in retaliation to sanctions and Europe’s support for Ukraine. As such, La Maire stressed that France needs to build stockpiles, and accelerate the rollout of renewable and nuclear energies.
  • Current account balance data is due later today, with budget balance and consumer confidence data also on the docket for this week.

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