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The euro fell to a new record low against the US dollar on Monday. At just 0.9884 dollars for one euro, the European common currency fell to its lowest level since December 2002. The causes include the energy crisis in Europe and currently the discontinued gas flow through the Nord Stream 1 pipeline in particular.
Russian gas giant Gazprom has suspended gas supplies to Germany through Nord Stream indefinitely. The delivery stop, which began on Wednesday, was initially justified by regular maintenance work on a compressor station and was supposed to last until Saturday. On Friday evening, Gazprom then announced that there was an oil leak from a turbine.
As of Monday morning, gas was still not flowing through the pipeline, according to the website of the European Network for Gas Utilities Transmission Systems (Entsog). The turbine manufacturer Siemens Energy described the cessation of pipeline operations as incomprehensible from a technical point of view. According to the first data from Monday morning, the extended gas supply stop from Russia had a negative effect on various European exchanges.
