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Gazprom, for technical reasons, completely stopped gas supplies to Europe via Nord Stream. The pipeline was temporarily shut down on August 31st for maintenance and scheduled to be restarted on September 3rd. However, during checks on the last operating engine, malfunctions were identified, and now its operation will be possible only after all problems have been eliminated. Meanwhile, the sanctions imposed by the West against Russia do not allow for a major overhaul of equipment, Gazprom explains. According to experts, against the backdrop of the shutdown of the Nord Stream, Europe risks facing an acute shortage of gas during the heating season, due to which the cost of raw materials may exceed $4,000 per 1,000 cubic meters for the first time. m. ....
On Friday, June 10, the Board of Directors of the Central Bank of the Russian Federation decided to reduce the key rate from 11 to 9.5% per annum. As explained in the Central Bank, the external conditions for the Russian economy are still difficult, but inflation is slowing down faster than expected, and activity is declining on a smaller scale than expected. According to the Ministry of Economic Development, the actions of the Bank of Russia will boost lending and lead to a revival of consumer demand in the country. At the same time, experts do not exclude the possibility of another rate cut in the coming months. ....