NO MORE GAS-FOR-POWER FOR POLAND & BULGARIA

Russia has placed a moratorium on national gas supplies provided by pipeline to Poland and Bulgaria. The halting of gas supplies could signal that Germany – a major purchaser of Russian gas – could face a similar embargo. European natural gas prices increased to 28 % on 26th April, and the Euro’s value fell to its lowest point against the dollar in five years.

The official reason for cutting off  gas is said to be a refusal by Poland and Bulgaria to pay in rubles, a new requirement Russia announced in March 2022, despite the fact that its foreign contracts generally call for payment in dollars or euros.