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Gazprom announces that gas exports will continue according to Russian regulations. Why the supply of Europe will not be stopped on Friday

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Gazprom maintains that it remains a responsible partner and maintains a guaranteed gas supply.

President Vladimir Putin on Thursday signed a decree requiring “unfriendly” states against Russia, including EU countries, to pay Russian gas in rubles from Friday, otherwise they will stop supplying it.

Kremlin spokesman Dmitry Peskov said Russia would not cut off Europe’s gas supply on Friday as payments due for April 1 deliveries would be made in the second half of this month and in May. Agerpres.

The official also said that the decree requiring “unfriendly” states against Russia to pay Russian gas in rubles from Friday is irreversible and currently the ruble is the preferred and safe currency for Russia.

Reference prices for natural gas in Europe rose 5.6% on Friday, with traders assessing the impact of Russia’s decision to demand payment in rubles for its deliveries, as colder weather would increase demand, Bloomberg reports.

On Friday morning, the quotations for gas with delivery the following month on the Amsterdam Stock Exchange rose by 0.9%, to 127.05 euros for a Megawatt-hour.

After announcing the payment of gas supplies in rubles, Vladimir Putin estimated on Thursday that a global food crisis will follow, which will result in a new wave of migration to European countries, which in the absence of Russian gas will face higher energy costs which will affect the competitiveness of companies and the standard of living of the population.

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“After the food crisis, a new and inevitable wave of migration will follow, mainly to European countries,” Putin predicted at a video conference on the situation of the aviation industry in the context of Western sanctions imposed on Russia after the aggression on Ukraine, reports EFE .

The official accused the West of “taking decisions one after the other that push the world economy into a crisis and lead to the destruction of logistics and production networks.” This crisis “will also lead to an increase in global inflation and a worsening of inequality, with a reduction in the well-being of millions of people in poor countries (…), to the tragedy of a massive famine,” he said. the Kremlin.

He estimated that giving up Russian gas would mean “massive deindustrialization and job destruction” for Europe, while “increasing fuel and electricity costs, utility costs and drastically lowering the living standards of its citizens.”

“This is the price that Western leaders are proposing to the people to pay for their ambitions and lack of vision in both politics and the economy,” he said, referring to European sanctions on Russia.

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He accused the United States of trying to take advantage of the current global instability, as it had done “in the First and Second World Wars and in their aggression against Yugoslavia, Iraq, Syria and others.”

“International markets are falling, and at this time the shares of US military companies are constantly rising,” Putin said.

The European Union had set itself the goal of reducing Russian gas imports by two-thirds this year before Putin signed the decree on gas supplies, with the goal that by 2027 it would no longer be dependent on energy imports from Russia.

The United States also announced last week that it would deliver an additional 15 billion cubic meters of liquefied natural gas (LNG) to Europe this year, with the goal of reaching 50 billion cubic meters in time. per year.

According to Agerpres, this volume will not be able to completely replace European imports from Russia of about 155 billion cubic meters of natural gas per year, plus the purchase of liquefied natural gas, brought by gas carriers, is more expensive than that of transported gas through existing pipes.

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