Forex Top Team

Russia stops supplying natural gas to Poland and Bulgaria- “threat” Europe, intensifying conflict

Russia’s state-owned natural gas monopoly company Gazprom announced on the 27th that it has stopped supplying natural gas to Poland and Bulgaria. It will not be supplied until the price is settled in the ruble denominated by Russia. While the European Union (EU) relies on Russian energy, it has argued that it is a “threat” to Europe that has imposed sanctions against Russia (European Commission President Von der Leyen), and the conflict is inevitable.

After Russia’s invasion of Ukraine, unilateral supply suspension to European countries seems to be the first time. Poland and Bulgaria announced on the 26th that they had received notifications of supply suspension from Gazprom, and explained that there would be no problem with supply for the time being by securing alternative suppliers.

I was conscious of the ECB’s rate hike and expected to buy, but rather than that, the focus was on the gas supply problem again and the EUR was selling strongly again.

Considering that the gas supply to Europe will be gradually stopped in the future, the EUR is expected to continue to be heavy.

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