EU Commission: No impact on security following Nord Stream gas leaks

Eren Sengezer FXStreet

The European Commission said on Tuesday there was no impact on security following the gas leaks reported at the Nord Stream pipeline, as reported by Reuters.

"At this stage, it's very premature to speculate on what the causes are," a Commission spokesman told reporters. The member states are looking into this issue, we will remain in close contact with them, but it's really not the moment to speculate."

Earlier in the day, Nord Stream AG announced that they have detected damages at three lines of the Nord Steam pipeline system and added that it was impossible to estimate when the transportation infrastructure would be restored.

Market reaction

This headline doesn't seem to be having a significant impact on market sentiment. As of writing, the Euro Stoxx 600 Index was up 0.3% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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