Gas prices soar in Europe after Russia cuts off Nord Stream supplies

European gas prices again reached near-record highs on Monday.  EU countries are digesting the implications of Russia’s decision to switch off flows down the Nord Stream 1 pipeline to Germany, announced late on Friday.  European stocks dropped at the start of the week, and the Euro has been trading at its lowest value against the dollar for two decades.  Germany’s Chancellor Scholz insists his country can make it through the winter without Russian gas, but Europe will need to reorganize its energy supplies.

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