In the face of Russia's "stop gas" and EU's "hard gas" and enterprise's "shortness of breath"

2022-04-29

After Russia stopped supplying natural gas to Poland and Bulgaria, European Union officials called on European enterprises not to succumb to Russia's "blackmail" and should insist on not settling gas charges in rubles. However, the media disclosed that some European enterprises have begun to pay in rubles, and more enterprises have opened ruble accounts in Russian banks. The EU is tough Gazprom announced on the 27th that it would stop supplying gas to Poland and Bulgaria because the other party refused to settle in rubles as required by Russia. The two countries became the first European countries to stop gas supply after Russian President Vladimir Putin ordered trade with "unfriendly" countries and regions to be settled in rubles. Russian energy plays an important role in the energy supply of European countries. About 40% of the natural gas and 30% of the oil required by the EU are imported from Russia. After Russia stopped supplying to Poland and Bulgaria, the gas price in the European market once rose by 20%. European Commission President Ursula von delaine said the EU would minimize the impact on European consumers and end "the era of Russian fossil fuels in Europe". EU neighbors are supplying gas to Poland and Bulgaria. Gazprom warned that if Poland and Bulgaria extract transit natural gas supplied to third-party countries without permission, Russia will reduce gas supply accordingly. The EU is scheduled to hold a meeting of energy ministers next month. Polish Prime Minister mateush moravitsky said on the 27th that Poland will ask the European Commission to impose 25% to 35% tariffs on Russian crude oil, natural gas and coal. Enterprises are helpless and "short of breath" While calling on Member States for "hard gas", von delaine did not forget to remind European enterprises to continue to settle natural gas transactions with Russia in euros or dollars according to the contract, otherwise they may violate the sanctions against Russia. However, Bloomberg News quoted sources as saying that four European companies have begun to pay gas purchase fees in rubles, and another 10 companies have opened accounts with Gazprom. Reported that Europe tried to maintain unity, but is facing a test. Although the EU imposed large-scale sanctions on Russia due to the Ukrainian crisis, it has not started on Russian oil and gas, but said it will gradually get rid of its dependence on Russian energy. The European Commission issued a document to Member States last week to provide guidance on how enterprises can continue to buy Russian natural gas without violating the sanctions. It is suggested that the transaction should be completed after the gas purchase fee is entered into the Russian bank in euros, and then replaced by rubles by Russia. Reuters quoted several EU officials as saying that at a meeting on the 27th, EU Member States asked the European Commission to provide clearer guidance. The future test is severe A spokesman for German energy company uniper told German media on the 28th that the company will no longer pay gas fees through European banks, but through Russian banks. Germany is the largest economy in the EU and the largest user of Russian energy in the EU. Germany's five authoritative economic research institutions previously released an economic forecast report that if Russia stops supplying natural gas to Germany, the German economy will face a sharp recession. Germany began to launch an emergency plan at the end of last month to deal with the possible shortage of natural gas. Robert habek, Deputy Prime Minister and Minister of economy and climate protection of Germany, believes that the disconnection of supply from Poland and Bulgaria shows that Russia is "ready to take it seriously", and Germany and other European countries must "take it seriously". Analysts at Goldman Sachs pointed out that Russia "cut off" Poland and Bulgaria or "further promote the EU, especially Germany, to explore the ruble payment mechanism, because stopping the gas will cause heavy damage to the regional economy". Reuters analysis, in the case of tight global natural gas supply, Europe is unlikely to completely get rid of its dependence on Russian natural gas in the short term. Although the United States expressed its willingness to provide liquefied natural gas to Europe, it could not fill the gap, and Europe did not have enough industrial facilities to convert natural gas from liquid to gas. Helioma Croft, head of global commodity strategy at Royal Bank of Canada capital markets, said that this could "soon evolve into a severe test of whether Europe can be determined to support Ukraine when energy prices soar and the risk of recession increases". (Xinhua News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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