Russia will not supply gas to Europe for free, says Kremlin

Russia will not supply gas to Europe for free, says Kremlin

by Joseph Anthony
302 views

The Russian central bank, the government and Gazprom should present their proposals for rouble gas payments to President Vladimir Putin by March 31

Russia is working out methods for accepting payments for its gas exports in roubles and it will take decisions in due course should European countries refuse to pay in the Russian currency, the Kremlin said on Monday.

At a meeting of European Union leaders on Friday, no common position emerged on Russiaโ€™s demand last week that โ€œunfriendlyโ€ countries must pay in roubles, not euros, for its gas in the wake of the United States and European allies teaming up on a series of sanctions aimed at Russia.
Concerns over security of supply were enhanced after the demand, with companies and EU nations scrambling to understand the ramifications.
The Russian central bank, the government and Gazprom, which accounts for 40% of European gas imports, should present their proposals for rouble gas payments to President Vladimir Putin by March 31.
โ€œWe are not going to supply gas for free, this is clear,โ€ Kremlin spokesman Dmitry Peskov told a conference call. โ€œIn our situation, this is hardly possible and appropriate to engage in charity (with European customers).โ€
On Friday, German Finance Minister Christian Lindner advised German energy providers not to pay for Russian gas in roubles, in an interview with broadcaster Welt.
Italy will continue paying Russia for energy in euros, a top economic adviser to the Italian government said last week. 
โ€œThe only big issue in Europe is gas and Russia is asking us to pay in roubles which we donโ€™t have and itโ€™s not in the contract,โ€ the chief executive of Italian energy group Eni ENI.MI, Claudio Descalzi, said on Monday at an industry event in the United Arab Emirates. 
Polandโ€™s PGNiG PGN.WA, which has a contract with Gazprom until the end of the year, has also said it cannot simply switch to paying in roubles.
The EU aims to cut its dependency on Russian gas by two-thirds this year and end Russian fossil fuel imports by 2027.
On Friday, the United States said it will work to supply 15 billion cubic metres of liquefied natural gas (LNG) to the European Union this year. 
U.S. LNG plants are producing at full capacity and analysts say most of any additional U.S. gas sent to Europe would have to come from exports that would have gone elsewhere.
Russian gas exports to the EU were at around 155 bcm last year.
REUTERS

You may also like

Leave a Comment

Chijos News is an independent online publication that provides readers with the latest breaking Nigerian news, world news, entertainment, sports, business, and many more.

@2024 – Chijosnews.com. All Rights Reserved.

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00