Following the huge reduction in Russian pipelined gas to Europe following 24 February 2022’s invasion of Ukraine, liquefied natural gas LNG has become the swing emergency energy supply for many of the developed countries that comprise the Global North, led by the U.S.
This followed the 31 March 2022 decree signed by Russian President Vladimir Putin that required European buyers to pay in roubles for Russian gas via a new currency conversion mechanism or risk having supplies suspended. The official guidance document sent out to all 27 E.U. countries on 21 April 2022 by its executive branch, the European Commission E.C.
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