Chancellor Scholz: Germany has started to replace gas imports from Russia – ANI

Anil Panchal FXStreet

“Germany has started to replace gas imports from Russia with supplies from other countries but still purchases some fossil fuels from Russia, Chancellor Olaf Scholz said,” per Asian New International (ANI).

“We have prepared for purchasing gas anywhere else, we had been doing that and continue to do that,” Reuters quotes ANI as it covers German Chancellor Scholz’s comments to ZDF broadcaster.

“Germany is still buying gas, oil and coal from Russia,” added the German leader.

The news also mentioned, “The chancellor stressed that the decision to suspend the Nord Stream 2 gas pipeline as well-timed.”

Elsewhere, Reuters came out with the news quoting Ukrainian Regional Authority to confirm the Russian military forces’ seize in Zaporizhzhia nuclear power plant.

Market reaction

The news adds to the current risk-off mood and weighs on the EUR/USD prices, down 0.40% around 1.1018 at the latest.

Read: EUR/USD renews 2022 low near 1.1000 as Russia-Ukraine crisis worsen ahead of US NFP

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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