EU races to shield industry as Russia gas stoppage shakes markets
European gas prices surged, stocks slid and the euro sank after Russia halted gas flows via a major pipeline, sending another shock wave through economies in the region still struggling to recover from the pandemic. European Union governments are pushing through multi-billion euro packages to prevent utilities buckling under a liquidity squeeze and to protect households from soaring energy bills. Prices could rise further after Russia’s state-controlled Gazprom said it would stop pumping gas via Nord Stream 1.
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