Russia has demanded European countries that have sanctioned Moscow pay for their supply in roubles – Russia’s national currency. But leaders of the G7 refused President Putin’s demand, as confirmed today by Germany’s economy and climate protection minister Robert Habeck.
He said: “All G7 ministers have agreed that this is a unilateral and clear breach of existing contracts.”
In response, Russian lawmaker Ivan Abramov said a refusal by the G7 to pay for Russian gas in roubles would lead to an unequivocal halt in supplies.
When asked about what happens if Russia stops gas deliveries, Mr Habeck added: “We are prepared for all scenarios and not only since yesterday.”
Officials in Europe have been scrambling to ensure the security of supply from Russia to the continent.
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Earlier in the war, the EU announced it aims to cut its dependency on Russian gas by two-thirds this year and end Russian fossil fuel imports by 2027.
Last week, President Putin announced Moscow will seek payment in roubles for gas sold to “unfriendly” countries – meaning those who have implemented sanctions.
He instructed the country’s central bank to work out a procedure for buyers to acquire rubles in Russia, in a move apparently designed to support the currency, which has collapsed since the invasion of Ukraine began.
The UK has also already banned imports of Russian gas, going considerably further than Europe.
Russia is the biggest producer of natural gas in the world, and supplies the EU with some 43 percent of its natural gas, according to the EU statistical office Eurostat.
EU gas imports from Russia this year have fluctuated between 200 million to 800 million euros a day.
Gas is supplied by the state-controlled Gazprom – a firm that has been Europe’s biggest supplier for decades, even if this does vary considerably between EU states.
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