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Friday, January 27, 2023

Russia insists on payments in rubles and threatens to stop deliveries: “No payment, no gas”

Russia threatens to cut gas supply to the EU if it is not paid in rubles

Russia threatens to cut gas supply to the EU if it is not paid in rubles

The EU and the G7 countries have announced that they will not pay for gas supplies in rubles; now Russia threatens to cut off gas supplies. “No pay, no gas” was the simple formula Kremlin spokesman Dmitry Peskov used to describe the threat in an interview with US television station PBS. Moscow wants to wait for the final response from the EU and then decide the next steps, he said. “But we definitely do not intend to present ourselves as benefactors and deliver gas to Western Europe for free,” Peskov stressed.

Kremlin chief Vladimir Putin had ordered that natural gas could only be delivered to “unfriendly” states like Germany if payment was made in rubles.

Federal Minister for the Economy and Climate Protection Robert Habeck said in Berlin on Monday after a virtual meeting with G7 energy ministers that the G7 ministers had agreed that the ruble payment demands were “a unilateral default and clear of existing contracts. The contracts concluded are valid, the affected companies must be faithful to the contract. “So this means that payment in rubles is not acceptable.”

Chancellor Olaf Scholz (SPD) said after a conversation with Swedish Prime Minister Magdalena Andersson: “Companies will pay according to their contracts.” These contracts are mainly based on euros.


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