The EU holds an emergency meeting to agree on actions to deal with the risk of Russia cutting off gas

Last week, Russia stopped supplying gas to Poland and Bulgaria after they refused to pay for gas in rubles. The two countries have also planned to stop using Russian gas this year and plan to make up for it from other alternative sources. However, this still raises concerns for European Union (EU) members, including Germany, when it could become the next country to have its energy supply cut off by Russia.

In addition, the EU is in danger of being divided because of disagreements related to the plan to punish Russia. These sanctions are putting many EU companies in a difficult position when they want to buy gas from Moscow but must ensure compliance with regulations set forth by the bloc.

Earlier, the European Commission (EC) had written instructions for companies to buy gas at Moscow’s proposal without violating sanctions imposed by Europe itself against Russia. However, the EU countries have asked the Commission for clearer guidance on this issue, given the different interpretations of the countries.

Specifically, the countries want to clarify whether sending euros to Gazprombank and then converting it into rubles at Russia’s request violates sanctions. This is an issue on which EU countries have different opinions.

According to data from the Center for Research on Energy and Clean Air (CREA), EU countries have paid Russia more than 45 billion euros ($47.43 billion) since it launched a military operation in Ukraine. on 2/24.

For Brussels, Russia’s demands are a unilateral breach of existing contracts and a way for Moscow to evade sanctions from Europe.

The EC has issued a warning to its member states that following the Russian scheme could violate EU sanctions, and proposed to the countries the option of completing the payment after it was made by way of payment. euros and before converting to rubles. Brussels is also drafting additional guidelines to unify the payment process for member countries.

Currently, Russia is the country that provides 40% of the gas and 26% of the EU’s oil imports. In fact, European countries have different dependence on Russian gas, but analysts say that cutting off all gas imports from Russia will immediately send countries into recession. especially Germany – the largest energy consumer in the bloc, so appropriate response measures are needed. Facing that situation, countries such as Austria, Hungary, Italy and Slovakia are also quite hesitant.

Despite the objections, later this month, the EC will announce a plan to end Europe’s dependence on Russian fossil fuels from 2027, including measures to expand renewable energy and improve create buildings that consume less energy.