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Gazprom Formally Halts Nordstream for Three Days

RUSSIA
  • As expected, Russia have formally stopped gas deliveries through the Nord Stream pipeline starting Wednesday for three days due to repairs on its only remaining compressor. Yesterday, Kremlin spokesman Peskov blamed European politicians for the halt in gas deliveries due to sanctions, saying citizens had to pay a high price from the actions taken by European politicians.
  • Additionally, Gazprom have formally suspended gas supply to France’s Engie following a dispute over payments. The cut-off will commence from Sept 1st. The French Energy Minister has stated they are preparing for a “worst-case scenario” and that Russia are using gas as a weapon of war.
  • Data due to cross later today (1700 BST / 7pm local time) includes retail sales, weekly CPI and the unemployment rate release (exp. 4.1%).
  • President Putin will hold a government meeting today while government ministers and officials will take part in the ‘Knowledge’ forum.

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