German Chancellor Olaf Scholz said on Monday that energy prices will remain high for a long time, as reported by Reuters.

Additional takeaways

"Putin is scared of the spark of democracy that could spread to Russia."

"This fear explains why he has tried to break up NATO and the EU for years."

"Putin wants to return to a politics of spheres of influence but he won't succeed."

"Russian claim that gas flows have fallen because spare parts are missing thanks to sanctions is not plausible."

Market reaction

These comments don't seem to be having an impact on the shared currency's performance against its rivals. As of writing, EUR/USD was posting modest daily gains at 1.0525.