The euro fell to its lowest level in decades on Monday, dropping 0.7 percent to $0.988, the Financial Times reports. This is the lowest value since 2002.

European stocks also fell, with the regional Stoxx 600 index down 1 percent, the German Dax down 1.7 percent, the French Cac 40 down 1.8 percent and the London FTSE 100 down 0.7 percent, the newspaper notes.

The euro exchange rate on the Moscow Stock Exchange fell by almost a ruble and was at a low of 59.855 rubles, according to the Russian version of Forbes.

This happened after Gazprom decided to stop supplies of gas to Europe via Nord Stream pipeline for an indefinite period of time. The Russian company attributed this to technical problems in the operation of the Trent 60 gas compressor unit at the Portovaya compressor station, in particular, experts noticed oil leaks. Gazprom stressed that it had already encountered such problems when working with other Siemens units, which were overhauled in Canada, noting that the elimination of the breakdown is possible only in the conditions of specialized repair facility.

Following Gazprom's announcement to shut down Nord Stream, European gas prices jumped 30% on Monday, September 5, to nearly $2,900 per 1,000 cubic meters. On Friday, September 2, trading closed at $2213 per 1,000 cubic meters.