“Working closely with Member States and operators. EU co-ordination today to establish a common approach on currency payments for gas contracts with Russia,” Ditte Juul Jorgenesen, director general of the European Commission’s energy division tweeted.Energy exports are Putin’s most powerful lever as he tries to hit back against sweeping Western sanctions but his room for manoeuvre is also limited because Moscow doesn’t have alternative markets for its gas, which is piped to Europe.
“It is of course a game to dodge sanctions, adding to uncertainty, propping up gas prices and filling Putin’s pockets,” a second trader said. Gazprom said on Friday it was exiting its business in Germany. It was not immediately clear how the move would affect the supply of Russian gas into Europe’s largest economy.
Austria’s OMV and Gazprom have had initial contact regarding paying for gas in rubles as demanded by Moscow, a spokesperson said on Friday, adding that the company is now waiting for written information. Gazprom said on Friday it had started to notify clients of a requested switch of end-payment currency to rubles.
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