• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Energy

EU tells oil companies not to pay in ruble amid Russia’s weaponization of its energy resources

... a source disclosed that some European corporations have complied with Putin's requests.

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
April 28, 2022
in Energy
Ursula von der Leyen President of the European Commissio

EU tells oil companies not to pay in ruble amid Russia's weaponization of its energy resources

Share on FacebookShare on TwitterShare on Linkedin

As the continent scrambles for a united response to Russia’s weaponization of its energy resources, European Commission President, Ursula von der Leyen has cautioned corporations not to give in to Russia’s requests to pay for gas in rubles.

Nairametrics reported that Gazprom PJSC (GAZP) stopped the supply of gas to Poland and Bulgaria on Wednesday, following through on a threat to restrict supply if payments were not made in rubles.

The focus now shifts to how large consumers such as Germany and Italy react, with German Economy Minister, Robert Habeck saying that the potential of further cutoffs must be considered seriously.

RelatedStories

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 

July 10, 2025
Nigerian farmers to repay NASENI’s irrigation support with harvest portions 

European Union, NASRDA to launch satellite farming project for food security in Nigeria 

July 7, 2025

Although Europe is trying to maintain a united front, a source disclosed to Bloomberg that some European corporations have now complied with Vladimir Putin’s requests.

What they are saying

European Commission President Ursula von der Leyen said, “Companies with such contracts should not accede to the Russian demands.” She added that “This would be a breach of the sanctions so a high risk for the companies.”

Robert Habeck, Vice-Chancellor of Germany said the continent had to be ready for a wider cutoff.

“Russia is showing that it’s ready to get serious, that if one doesn’t comply with supply contracts or payments, they’re ready to put a stop to gas deliveries,” he said.

He added, “We have to take that seriously, and that also goes for other European countries. I take that seriously.”

What you should know

  • Last month, Russian President, Vladimir Putin enacted a law requiring international gas buyers to pay in roubles or face having their supplies shut off. He claimed that this was necessary because if they paid in hard currency, Moscow would be unable to access the funds due to Western sanctions over Ukraine.
  • In effect, foreign gas customers must open ruble and hard currency accounts with Gazprombank, which will collect their payments in foreign currencies and convert them to rubles through auctions on a Moscow exchange.
  • Energy payments are made in phases, and Poland appears to have been one of the first countries to receive a bill in rubles. Uniper, a German-based does not have to pay until late May.
  • However, Uniper told the newspaper, Rheinische Post on Thursday that they would be transferring payments for Russian gas to a Russian bank and no longer to a Europe-based bank.

Yesterday European gas prices jumped more than 20% as traders processed the abrupt change and assessed which countries might be next. Benchmark Dutch futures soared as much as 24% to 127.50 euros per megawatt-hour, the highest level since April 1.


Follow us for Breaking News and Market Intelligence.
Tags: EUEuropean UnionPresident Ursula von der LeyenRussia energy resourcesRussia Rubles
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

Related Posts

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 
Business News

Nigeria, EU seal €20 million deal to boost museum, film, and digital creative industries 

July 10, 2025
Nigerian farmers to repay NASENI’s irrigation support with harvest portions 
Agriculture

European Union, NASRDA to launch satellite farming project for food security in Nigeria 

July 7, 2025
FG, EU, UNICEF unveil N21.7 billion sustainable social safety initiative in Nigeria 
Business News

FG, EU, UNICEF unveil N21.7 billion sustainable social safety initiative in Nigeria 

June 25, 2025
EU faces widening skilled labor shortage, looks to recruit foreign workers
"Japa"

EU announces 42 high-demand jobs for foreign workers in 2025  

June 16, 2025
EU allocates €510 million for humanitarian aid in Nigeria, other Sub-Saharan African nations 
Agriculture

EU launches agribusiness platform to drive inclusive growth and food security in Nigeria’s agriculture 

May 23, 2025
European commission opens blue book traineeship programme for graduates
Economy

EU commits €300 million to new projects in Nigeria’s North-West and North-East regions 

May 10, 2025
Next Post
NCC, telecoms fraud

Telecoms: NCC investigates operations of infrastructure sharing companies

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Africa needs gas as a transformational fuel for development – Sahara Group 
  • FG to pilot 6-month training for 3,000 artisans in 10 construction trades across 3 states  
  • BREAKING: Former President Muhammadu Buhari dies in London 

Follow us on social media:

Recent News

Africa needs gas as a transformational fuel for development – Sahara Group 

Africa needs gas as a transformational fuel for development – Sahara Group 

July 13, 2025
Musa Dangiwa,

FG to pilot 6-month training for 3,000 artisans in 10 construction trades across 3 states  

July 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics