7/19, 11:24 AM (Source: TeleTrader)
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EU assuming Nord Stream will not restart

European Commissioner for Budget and Administration Johannes Hahn told reporters on Tuesday that the European Union is "working on the assumption" that Nord Stream will not restart operations, the Wall Street Journal reported. The pipeline, which conducts gas from Russia into the European Union, has been closed for maintenance since July 10. Its reopening on July 21 has been called into question.

Yesterday, the EU's top diplomat Josep Borrell said the bloc should brace itself for a gas cut-off, assuring the EU is ready for all scenarios. Meanwhile, the price of gas kept rising as Russia's energy company Gazprom blamed the shortage on "force majeure."

Baha Breaking News (BBN) / DJ