Russia may be about to cut off gas to Finland
The Finnish government and businesses are preparing for a scenario where Russian gas supplies will be cut off in May if they refuse to pay in rubles.
Sheet Helsingin Sanomat Finland’s state-owned company Gasum, representing the country, will make a decision by May 20 on whether to accept a request for payment of a gas contract in rubles made by Russia.
According to the notice of Gazprom, Russia, if Finland does not accept the request to pay in rubles after this time, the gas flow will be cut off from May 21.
Earlier, Tytti Tuppurainen, minister for European affairs and ownership of Finland, announced that the country had decided not to accept the gas payment terms offered by Russia. Finnish officials say that if Russian gas is cut off, the country will need to find alternative sources such as from the Baltic Connection pipeline, or reduce the scale of domestic production.
The contract between Gazprom and Gasum is still valid up to this point. Gazprom notified Gasum of the new payment process at the beginning of April.
The information was announced after Russian energy group Gazprom on April 27 stopped supplying gas to partners Bulgargaz of Bulgaria and PGNiG of Poland. The two companies refused to transfer funds to Gazprom on time under the new payment process.
Gazprom’s Siberian Energy plant, which processes gas mined in the Russian Far East, in November 2019. Image: Reuters.
According to a decree issued by Russian President Vladimir Putin at the end of March, European businesses must pay for gas contracts in rubles.
European businesses do not need to pay directly in Russian currency, but can open an account at Gazprombank and transfer euros or USD for payment under the contract. Gazprombank will convert the money into rubles on its own and the European business representative will pay with Gazprom.
This measure applies to countries that Moscow considers “unfriendly” to Russia, when participating in a series of Western sanctions or providing weapons to Ukraine.
Kremlin spokesman Dmitry Peskov this week warned Russia is ready to cut off gas to those countries that continue to refuse to pay under the new rules. Peskov added that the refusal to pay for Russian gas in rubles reflects the West’s desire to punish Russia at all costs, even at the expense of consumers, taxpayers and producers themselves. .
Russia said it demanded gas payments in rubles because the West froze Moscow’s assets. Peskov accused the West of “stealing” these assets with an “unprecedented lack of friendliness”.
Name (According to TASS, ANI)
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