By G-7 Rejects Putin’s Demand for Ruble Payments for Russian Gas
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© Bloomberg. Pipework at a gas pre-treatment unit at the Gazprom PJSC Chayandinskoye oil, gas and condensate field, a resource base for the Power of Siberia gas pipeline, in the Lensk district of the Sakha Republic, Russia, on Tuesday, Oct. 12, 2021. European natural gas futures declined after Russia signaled that it may offer additional volumes soon. Photographer: Andrey Rudakov/Bloomberg
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(Bloomberg) — Group of Seven energy ministers unanimously rejected Russian President Vladimir Putin’s demand that natural-gas contracts be paid in rubles.
Putin’s demand represents a “one-sided and clear breach of contracts,” German Economy Minister Robert Habeck said Monday after chairing talks that also included European Union officials.
“That means that a payment in rubles is not acceptable and we urge the relevant companies not to comply with Putin’s demand,” Habeck told reporters in Berlin.
“Putin’s effort to drive a wedge between us is obvious but you can see that we won’t allow ourselves to be divided and the answer from the G-7 is clear: the contracts will be honored,” he added.
Germany currently holds the presidency of the G-7 club of developed economies and Habeck is also responsible for energy in Chancellor Olaf Scholz’s ruling coalition.
©2022 Bloomberg L.P.
G-7 Rejects Putin’s Demand for Ruble Payments for Russian Gas
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