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The EU is again concerned about its energy prospects


Júl, 20 2022
watermark Economic news

The European Union intends to prepare for the upcoming winter without relying solely on Russian gas. To do this, the European Commission is even ready to ask the EU countries to reduce the consumption of natural gas.


At the same time, analysts note that different countries in the European region have different degrees of dependence on Russian energy resources. For example, Germany is currently one of the largest importers of Russian gas and oil compared to Spain.


In addition, disputes continue over the resumption of supplies via the Nord Stream-1 gas pipeline on Thursday. This key transit point of Russian gas to Europe was closed for preventive maintenance for 10 days. Some experts are not sure that gas flows will resume at full capacity.


The European Commission has launched a plan to move away from Russian gas after Gazprom announced that it could not fulfill gas contracts with the European bloc. This has become a serious problem for EU countries that are heavily dependent on Russian energy.


Currently, gas storage facilities in Europe remain incomplete, and the authorities of European countries are experiencing strong economic pressure.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.