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Russia won't cut off gas supply to Europe before April half

2022-04-01 16:37:10Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Russia won't cut off gas supply to Europe before April half

Russia has said it will not yet cut off gas exports to Europe in connection with the clash that has erupted over the payment of this product in rubles, dated 1 April.

Russian President Vladimir Putin signed a decree Thursday saying buyers must pay in rubles through Russian bank accounts from Friday.

The Kremlin said it would not affect shipments that had already been paid, but with payments for post-April 1 shipments due by mid-month.

Moscow is seeking to strengthen the ruble devalued by the daring of international sanctions.

"Does this mean that if there is no confirmation in rubles, then gas supplies will be discontinued from April 1st? No, it is not what the decree envisions," Kremlin spokesman Dmitry Peskov said.

The EU said it was talking to energy companies about how they would pay for gas.

Ditte Juul Jorgensen, director general of the European Commission's energy directorate, posted in Titter that the EU was "working closely with member states and operators... to establish a common approach on currency payments for gas contracts with Russia."

Since Russia invaded Ukraine, Western countries have imposed sanctions on Russian companies and individuals. Unlike the U.S. and Canada, the EU has not imposed bans on Russian oil or gas, as its member states depend heavily on Russian exports.

Russia supplies the European Union with about a third of its gas and oil imports, which are mainly paid in euros and dollars.

The EU has no easy substitute if supplies are interrupted, but at the same time, Russia is earning 400m euros a day from selling gas to the bloc and has very little opportunity to redirect that supply to other markets.

EU member states have been on standby for any disruption to Russian gas imports, as tensions over Ukraine's invasion between Russia and the West continue.

 


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