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JPMorgan draws up plans for European blackouts as energy crisis looms

The bank is drawing up contingency plans for all of its offices in Europe

The Nord Stream 1 natural gas pipeline in Lubmin, Germany, which is a key energy source for Europe, has been halted by the Kremlin due to Western sanctions triggered by the war in Ukraine
The Nord Stream 1 natural gas pipeline in Lubmin, Germany, which is a key energy source for Europe, has been halted by the Kremlin due to Western sanctions triggered by the war in Ukraine Photo: Bloomberg via Getty Images

JPMorgan could shift work from continental Europe to the UK or Wall Street as the region braces for energy shortages in the coming months.

The US investment bank has drawn up contingency plans for its workers in Europe, which include potentially shifting work from its major offices in the region, moving employees home or utilising emergency generators.

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