24.09.2022
Chicago 11, Melborne City, USA
Forecasts

experts assessed the impact of the cessation of LNG supplies on the euro exchange rate

MOSCOW, July 13 – PRIME. Bloomberg, citing a statement by UBS Group AGE analysts, writes that if the Russian Federation stops supplying LNG to Europe, the stock markets will collapse, and the euro will fall to 0.90 cents.

Vzglyad: Europe is wiping LNG from weaker countries

Experts said that if LNG supplies from Russia to European countries run out, companies’ revenues will decrease by more than 15%. This will lead to a fall in stocks, and the Stoxx 600 index, which reflects the European market, may even fall by 20%. Because of these events, the euro will be 0.90 cents.

Forecasts should be taken as very rough, as they do not yet reflect the worst-case scenario, said the UBS Group AG. The euro is already suffering a strong collapse against the dollar to a record low, while German corporate shares have lost 11%.

A number of investors believe that Russia will nevertheless decide to restore the volume of LNG supplies after the completion of the Nord Stream preventive work. However, the voluntary intention of the EU to save gas in order to replenish stocks in storage facilities may also have a negative impact on the economy.

Source: 1prime

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