Russia’s Gazprom has cut off gas supplies to Dutch gas trader GasTerra after it had failed to comply with requirements to pay for deliveries in Russian rubles.
GasTerra said in a statement on May 30 that it has “decided not to comply with Gazprom’s one-sided payment requirements.”
Russian President Vladimir Putin issues a decree in March stating that from now on, Russian gas would have to be paid for in rubles, meaning that nations wanting to purchase gas would have to open both a euro and a ruble account with Gazprombank in Moscow.
“GasTerra will not go along with Gazprom’s payment demands,” the partially state-owned company said. “This is because to do so would risk breaching sanctions imposed by the E.U. and also because there are too many financial and operational risks associated with the required payment route.”…