Firm seized by Germany sought to use ruble-payment account
German regulator says the gas can be purchased on market
Russia’s major gas bank rejected a payment from a trading firm that Germany seized from Moscow’s control, the first sign of friction following the take-over amid a broader regional energy dispute.
DCO Global News
Published on April 28, 2022
By Odoh Dominic Chukwuemeka
Gazprombank declined payment for some April and May gas deliveries to Germany and Austria under contract with Gazprom Marketing & Trading Ltd., even as the company sought to pay for the fuel using a rubles account as Russia has demanded, according to people familiar with the matter.
Russia to Cut Gas to Poland, Bulgaria Until Pay Demands Met
Gazprom says it will keep supplies turned off until Poland and Bulgaria agree to Moscow’s demand to pay for the crucial fuel in rubles.Source: Bloomberg
Russia halted gas flows to Poland and Bulgaria in a major escalation, and said it will keep supplies switched off until the two countries agree to Moscow’s demands to pay for the fuel in rubles.
European gas prices surged 20% on Russia’s sudden move to turn its vast energy resources into a weapon against Ukraine’s allies. But prices later eased as it emerged that some European companies have taken steps to accede to Moscow’s demands, reducing the risk of a broader cutoff.
By Odoh Dominic Chukwuemeka
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