“The process of converting the Russian payment currency for gas into rubles will take time and won’t start this week already despite the provisions of President Vladimir Putin, whose decree set March 31 as the deadline for changing payment methods. This was stated by Putin’s spokesman, Dmitry Peskov, in a conference call with journalists. Yesterday it was assumed that the loan for payments in rubles could be triggered as early as April this year. In short, it is a step backwards for Moscow in a tug of war that is ongoing. Today the Federal government has activated the early warning dand the gas emergency plan in Germany. This was announced by the Minister for Economy and Climate Robert Habeck in Berlin, at a press conference in the Ministry, and explained this because of the war in UkraineGermany is preparing for a deterioration in gas supplies, but currently guaranteed. The emergency plan is divided into three phases, the first, the current one, requires special attention Monitoring of gas reserves and consumption. According to the ministry, the overall supply of all consumers is currently still guaranteed.
“However, from now on every gas consumer will have to from companies to private individuals Reduce your consumption as much as possible“. The third phase requires the state to temporarily take direct control and management of all potential energy suppliers in the country. After Berlin’s announcement, which essentially signals a greater likelihood of a gridlock with Moscow, the price of gas has fallen increased by 5% to 113 euros per megawatt / hour. About 40% of German gas consumption is guaranteed by Russian supplies, which in Germany are mainly provided by the Nord Stream 1 gas pipeline with a capacity of 55 billion cubic meters per year and Yamal, which runs through Belarus and Polona. Yesterday, Putin’s dictate for payment in rubles was rejected by the G7 countries, who see the Kremlin’s move as a breach of contract. Today the Poland said, that She will “do everything” to stop oil imports from Russia by the end of this year and hopes to achieve a “complete task” of the Russian coal in what represents the “most radical plan” of energy independence from Russia in Europe.
also read
Russian gas, oil and coal bring China, India and Pakistan to an agreement: bargain buying
The topic of payments in rubles was one of the topics of the telephone conversation that took place between the French President Emmanuel Macron and Putin. As repeated yesterday by the Russian state company Gazprom, deliveries to Europe are currently taking place on a regular basis. The Old Continent imports more than 100 billion cubic meters of Russian gas every year, 30 of those billions end up in Italy. Shipment of LNG by ship insured by the United States covers about a tenth these inventories. So both sides have the knife on the side of the handle… or rather on the side of the blade. Without an agreement, stopping Russian gas would cause serious problems for Europe and Moscow would have to give up the billion euros that the EU pays Moscow every day for oil, gas and coal. Without being able to completely replace the supply, at least in the short term. According to rumors, the Kremlin is considering the possibility of extending payments in rubles to grain deliveries.
Support : never like right now we need you
In these difficult and extraordinary times, it is important to guarantee quality information. For us at , the readers are the only masters. Unlike others, we want to offer journalism that is open to everyone, without paywalls. Your contribution is essential to enable us to do this. Become a supporter too
Thank you Peter Gomez
Support now
previous article
Moscow is evaluating the buyback of the $2 billion ruble bond that expires on April 4
next article
First impact of the conflict on consumer prices. Spanish inflation jumps to 9.8%. Tomorrow the data from Germany and Italy