- Analytics
- News and Tools
- Market News
- French Energy Minister: We have been ready and preparing for Russian gas cut-off
French Energy Minister: We have been ready and preparing for Russian gas cut-off
France's Energy Minister Agnès Pannier-Runacher said on Wednesday that Russia is using gas as a weapon of war "as we anticipated".
Additional quotes
Russia is further reducing French supplies based on that supposition.
France has been ready and preparing for such a scenario.
The country already reducing its exposure to Russian gas imports to 9% - down from roughly double the amount before the Russia-Ukraine conflict.
These comments come after Engie SA, a French multinational utility company, said on Tuesday that Russia’s Gazprom has informed them of a reduction in gas deliveries starting today due to disagreements between the parties over the application of several contracts.
However, later in the day, Russia's gas giant Gazprom announced that it will fully suspend natural gas supplies to Engie from September 1 until it receives all payments for gas in full.
Market reaction
The shared currency is unfazed by the European gas crisis, as EUR/USD is trading near-daily highs of 1.0045, up 0.30% on the day, in anticipation of a 9.0% surge in the Eurozone inflation.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
