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- EU’s von der Leyen: Likely that there could be a full cut-off of Russian gas
EU’s von der Leyen: Likely that there could be a full cut-off of Russian gas
European Commission President Ursula von der Leyen said on Wednesday that it was a likely scenario that there could be a full cut-off of Russian gas, as reported by Reuters.
"Russia is blackmailing us. Russia is using energy as a weapon. And therefore, in any event, whether it's a partial, major cut-off of Russian gas or a total cut-off of Russian gas, Europe needs to be ready," von der Leyen told a news conference.
EU executive proposed that members could voluntarily lower their gas usage by 15% until March to ease the pressure.
Market reaction
These comments seem to be having a negative impact on market sentiment. As of writing, EUR/USD was down 0.3% on the day at below 1.0200 and the Euro Stoxx 600 Index was losing 0.2%.
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