President Recep Tayyip Erdogan has confirmed that Turkey will start paying for some of its Russian natural gas imports in rubles. Avoiding paying for the gas in dollars helps Turkey protect its dwindling hard currency reserves.
Gazprom to cut Italian energy giant Eni’s gas supply by 15 percent
Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant said, amid tensions between Moscow and the West following its invasion of Ukraine. "Eni confirms that Gazprom has announced a limited reduction in gas supplies for today, amounting to around...
Russia to pay overseas debt in rubles as US exemption ends
Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption allowing Moscow to make the payments in dollars held in Russia. The US Treasury announced Tuesday it was closing the escape clause to the drastic financial sanctions imposed on Moscow...
European Union readies for end of Russia gas, warns won’t pay in ruble
The European Union warned member states Monday to prepare for a possible complete breakdown in gas supplies from Russia, insisting it would not cede to Moscow's demand that imports be paid for in rubles. The European Commission will on Tuesday propose to member states a new package of sanctions to...
Moscow gas threat as NATO warns Russians ‘regrouping’ in Ukraine
Russia threatened Thursday to turn off its gas taps to Europe if the continent fails to pay in rubles, opening up a new front amid its war in Ukraine, where NATO and Kyiv warned that Russian troops were regrouping for new attacks. Over a month into Russia's invasion of its...
