Russia cutting gas supplies to Poland and Bulgaria
Russia is reportedly planning to halt all natural gas pipeline flows to Poland and Bulgaria, a significant escalation in the ongoing Ukraine crisis.
Russian energy giant Gazprom said it would stop sending natural gas to the two European Union member countries unless they agreed to pay for supplies in rubles, the BBC reported. The Polish government has previously refused to comply with Russian President Vladimir Putin’s requests that energy payments be made in rubles in the wake of Russia’s full-scale invasion of Ukraine.
“Any buyer rejecting the new payment procedure out of hand is running a very real risk of supplies being cut,” Katja Yafimava, a senior research fellow at the Oxford Institute for Energy Studies, told Bloomberg.
European natural gas prices increased 17% after the reports surfaced Tuesday, according to Bloomberg. – READ MORE
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