Russia will not ask directly from other countries to pay in rubles on gas imports, the Kremlin announced today, promising a gradual transition and noting that Moscow will work on the idea of expanding the list of its products for which it will ask to be paid in rubles.
Earlier today, the speaker of the Duma Vyacheslav Volodin had warned the EU that if it wanted Russian gas, it would have to pay in rubles, noting that the same would happen for exports of oil, grain, metals, fertilizers, coal and timber.
It is noted that the Russian ultimatum for payment of gas in rubles has sounded the alarm throughout Europe. In this context, the Minister of Environment and Energy, Costas Skrekas, has convened an extraordinary meeting of the crisis management group, today, Wednesday, March 30, as tomorrow, March 31, expires the ultimatum of the Russian Federation for the payment of contracts gas supply in rubles.
The purpose of the meeting, which will take place at 5 pm, is to evaluate alternative scenarios for the adequacy of the country’s gas supply in the event of a power outage from Russia.
The meeting will be attended by the President of RAE, Athanasios Dagoumas, the President of the Crisis Management Team and B Vice President of RAE, Dimitris Fourlaris, the CEO of DESFA, Maria Rita Galli, the CEO of DEFA Emporias, K. PPC CEO, George Stassis, the PPC Deputy CEO, Ioannis Kopanakis and a representative of IPTO management.
Last week the Russian president Vladimir Putin instructed Gazprom to accept payments for gas only in rubles from “unfriendly countries”, ie countries that have imposed sanctions on Russia.
As part of the alarm, however, Germany has already launched an emergency plan in three phases.
At its “early warning level” emergency plan for possible lack of natural gasGermany is from today, announced a while ago Minister of Economy and Climate Policy Robert Hubeck.
Mr. Habeck activated this stage “due to its impending deterioration supply situation“, Clarifying, however, that for the time being there is no problem in the process. “Nevertheless, we must increase the precautionary measures so that we are prepared in case of escalation on the part of Russia,” the minister said.
This is first of the three emergency levelswhich does not provide for restrictions on the supply of natural gas and constitutes purely preventive However, Robert Hubeck called on consumers – individuals and businesses – to save “as much as possible” on use. “Every kilowatt hour we save helps,” he said, adding that “the federal government is doing everything possible to continue to guarantee security of supply for the country,” adding that the European Commission has already been informed.
Regarding Russia’s demand for gas supplies to be paid in rubles, Mr Habeck stressed that Germany was prepared and “would not accept any breach of contract”.
It should be noted that Russian exports correspond to 55% of Germany’s gas imports for 2021. Although this percentage decreased to 40% In the first quarter of 2022, Economy Minister Robert Habeck stated that Germany would not achieve full independence from Russian supplies before mid-2024.
What is the problem;
Moscow last week announced a mechanism by March 31 under which “Kremlin-friendly” countries that have imposed sanctions on Russia over its attack on Ukraine, will pay in rubles for the purchase of Russian gas. The measure concerns Germany and other European countries, which to date pay in dollars.
Robert Habek, the German minister responsible for the country’s energy security, has rejected the Russian demand, saying that the contracts will be implemented on the terms provided.
Russia’s largest German customers are EnBW Uniper, RWE and VNG, who have long-term contracts. They have not commented on questions about individual preparations to deal with the disruption of gas supply.
What is Germany’s plan?
The Berlin Gas Plan provides for three levels of alarm.
The first level, activated today by the German government, applies when there are indications that there may be an emergency in gas supplies. The second level means an alarm when a supply disruption or extremely high demand affects the normal balance, but there can be correction without intervention.
The third level is a state of emergency and is activated when market measures cannot address shortages. At this level, the network regulator, the Bundesnetzagentur, is called upon to decide how the country’s existing oil reserves will be distributed.
Who is affected first?
If Germany does not ensure an adequate supply of gas, the first to be affected will be industrywhich corresponds to a quarter of German demand.
“This means that industrial production is being lost, supply chains are being lost,” said Leonard Byrnbaum, chief executive of the E.ON energy group at ARD. “What is certain is that we are talking about very big losses.”
Households will have priority over industry, while hospitals, care centers and other public sector institutions with disabilities will be the last to be hit by the gas shortage.
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