finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

Russia Blames European Sanctions for Pipeline Shutdown

Russia has announced that it will not resume gas supplies along the Nord Stream 1 pipeline to Europe until sanctions are eased.

Posted: 6th September 2022 by
Katina Hristova
Share this article

The pipeline has been shut for three days for maintenance and will not reopen unless sanctions are lifted.

"Pumping problems arose because of sanctions imposed against our country and against a number of companies by Western states, including Germany and the UK,” said Kremlin spokesman Dmitry Peskov.

Gas prices surged on Monday 5th September over pressing concerns around energy supplies. The Dutch month-ahead wholesale gas price, which is considered a benchmark for Europe, rose 30% in early trading on Monday, whilst prices in the UK were up as much as 35%. A German government spokesperson commented that the latest gas price surge was part of Putin's plan.

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram