Neither the escalating war in Ukraine nor the conversion of gas payments into rubles has so far affected deliveries of Russian gas in transit through Ukraine. After 108.4 million cubic meters were pumped through the pipeline system on Sunday, 108.3 million cubic meters were ordered for Monday, energy giant Gazprom said, according to Interfax news agency. Both parameters correspond almost to the maximum contractually possible daily value.
The high delivery volumes are partly due to climate change in Europe. After a cold snap, values in many countries are well below the average temperatures of previous years at this time. This means that there is an increased demand for gas as a fuel. Despite Russia’s war against Ukraine, gas transit through the neighboring country, which receives substantial transit fees, has continued at high volumes since February 24.
A week ago, Kremlin chief Vladimir Putin announced that in future he would only sell Russian gas to Western countries for rubles, which they reject. On Thursday, he signed a decree forcing Western customers to open accounts with a Russian bank, which will continue to be financed in euros and dollars. The bank then wants to exchange the money for rubles. The rule took effect on Friday.