Printed on Mon Sep 26 2022 6:55:37 PM

Russia has threatened to cut off gas supplies

International desk
gas supplies
Russia has threatened to cut off gas supplies if the Russian roubles do not meet the price.

The order, signed by President Vladimir Putin, says buyers must open a rouble account in a Russian bank.

The British media reported on Friday that the account could be opened from today on the orders of President Putin.

The order further said, "No one gives us anything for free, and we have not opened the charity either." This means that all those agreements will be suspended.

According to the report, Russian buyers are required to open an account with Russia's Gazprom Bank and send euros or dollars there.

Gazprom Bank will then exchange the currency for the ruble and deduct the price of gas from it.

Germany has called President Putin's announcement the equivalent of "blackmail."

The European Union (EU) buys 40% of its gas and 30% of its oil from Russia. It is not easy to get this amount of fuel from another country in a short period of time.

According to the report, Russia currently sells gas worth 400 million euros a day to the EU. Similarly, it is difficult for Russia to collect such a large amount of currency from the world market.

Analysts believe that since there are no Western sanctions on Gazprom Bank to keep the process of buying fuel from Russia moving, European buyers can easily send their currency to that bank.

Researcher at the Oxford Institute for Energy Studies. Jack Sharples told the media that the process is starting today, so there is no danger of the gas supply being cut off right now.

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