August 8, 2022

On Monday, European Union power ministers will maintain emergency talks to discover a unified response to Moscow’s demand that European patrons pay for Russian fuel in rubles or lower off provides.

Russia suspended fuel provides to Bulgaria and Poland final week after they refused to satisfy its demand for fee in rubles.

These nations have already made plans to cease utilizing Russian fuel this yr and say they will do it, however have expressed concern that different nations within the European Union might be subsequent, together with Germany, Europe’s gas-dependent financial powerhouse.

This threatens to separate the EU united entrance towards Russia amid disagreements over the fitting plan of action.

Many European firms should pay for fuel on the finish of this month; EU nations urgently want to seek out out whether or not firms can proceed to purchase gas with out violating EU sanctions towards Russia over its invasion of Ukraine.

Moscow has introduced that overseas fuel patrons should deposit euros or {dollars} into an account at Russia’s personal Gazprombank as a way to convert it into rubles.

Whereas the European Fee has signaled to nations that complying with Russia’s plans could represent a violation of EU sanctions, it has additionally indicated that nations could make funds with out violating sanctions in the event that they announce {that a} fee has been accomplished after it has been paid in Euro. and earlier than the switch to rubles.

Leave a Reply

Your email address will not be published.