On Monday, 5 September, the value of euro before the U.S. dollar dropped to a new low since December 2002. This new drop came as a result of an announcement from Russia that due to technical difficulties it is not possible to resume gas supplies using Nord Stream pipeline.
Europe’s single currency before U.S. dollar has been declining since the start of the year, mostly in response to economic uncertainty caused by the Russian invasion in Ukraine.
Euro value before U.S. dollar dropped to 0.9884 USD/EUR in the morning on Monday, 5 September.
On 2 September Russian gas concern Gazprom announced that technical problems were uncovered during maintenance of Nord Stream’s main compressor station’s sole working gas pump block. Gazprom decided to shut down the entire pipeline until the malfunction has been repaired.
On 31 August Nord Stream’s main compressor station’s sole working gas pumping block was shut down for three days for maintenance. Supplies of Russian gas to Germany ceased for the entire period of time.
It was planned to resume gas supplies to Germany on 3 September.