Putin: Russia to halt gas flow to Europe if payment conditions not met
President Vladimir Putin says Russia will halt its gas contracts with European buyers if they do not pay in rubles.
In televised remarks on Thursday, Putin said in order to purchase Russian natural gas, the Europeans must open ruble accounts in Russian banks.
"It is from these accounts that payments will be made for gas delivered starting from tomorrow,” he said.
“If such payments are not made, we will consider this a default on the part of buyers, with all the ensuing consequences. Nobody sells us anything for free, and we are not going to do charity either - that is, existing contracts will be stopped,” Putin added.
About one third of Europe's gas is supplied by Russia. Putin is trying to use energy as leverage to confront Western sanctions imposed on Russia for its operation in Ukraine.
France said Thursday it is looking with Germany for emergency gas supplies as the possible halt of Russian gas flows could lead to a full-blown energy crisis in Europe.
German Chancellor Olaf Scholz ignored Russia’s new payment demand, saying that his government is going to pay in euros and sometimes in dollars as agreed in the contract.
In a news conference with his Austrian counterpart Karl Nehammer, Scholz said he hopes Germany will get independent from Russian oil and coal this year, but it will take a long time to reduce his country’s dependence on Russian gas.
Scholz, nevertheless, demanded intensified sanctions on Putin by removing loopholes to keep up pressure on the Russian leader.
Italian Prime Minister Mario Draghi said the dispute over payments will not lead to any disruption in gas flows to Europe.
"There has been a process of reflection within Russia that has led to an understanding of what it means to pay in rubles,” he told a press conference on Thursday.
President Putin has said the currency switch is meant to strengthen his country’s sovereignty.
Since Putin announced a “special military operation” last month to demilitarize and “de-Nazify” Ukraine, Western countries have slapped increasingly tough sanctions against Russia.
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