[Archyde.com, 28th Berlin]-Energy ministers of the seven major countries (G7) agreed on the 28th to refuse the ruble settlement of natural gas requested by Russian President Vladimir Putin.
Russia has formulated a way to receive gas exports in rubles and has indicated that it does not intend to supply European countries with gas free of charge.
Germany’s Minister of Economy and Climate Protection, Robert Habeck, told reporters that “all G7 ministers agreed that this was a one-sided and clear breach of the existing contract.” “The contracts signed are valid and companies should and must respect them. Payments in rubles are unacceptable and related companies urge Putin not to comply.” Emphasized.
“Mr. Putin’s attempt to divide us is clear, but as evidenced by this great unity and determination, we are never divided.”
According to the Russian news agency (RIA), Russian lawmaker Ivan Abramov said that if the G7 refuses to settle the ruble, the supply will be cut off. He is a member of the Senate Economic Policy Committee.
“Russia does not supply natural gas for free. It cannot do philanthropic business (to European customers),” said Peskov, a spokesman for the Russian Presidential Administration. If Europe refuses to settle the ruble, it will respond.
In a subsequent interview with PBS, Peskov said, “If you don’t pay, you don’t have gas (supply),” when asked if customers who don’t pay will stop supplying gas.
However, Russia has not yet made a final decision on what to do if European countries refuse to pay in the ruble.
In the UK and the Netherlands, wholesale gas prices rose by up to 20% on the 28th due to concerns over supply from Russia.
The Central Bank of Russia, the government, and Gazprom, a state-owned gas company, are expected to submit a proposal to President Putin over the ruble settlement of natural gas exports by the 31st.