LAST UPDATE: 21.34
Gazprom’s decision to cut off gas supplies to Bulgaria and Poland is unjustified under the supply contracts and shows that any other member state could be next, Energy Commissioner K. Simpson told a post-summit press conference. Ms. Simpson noted that Russia is trying to break up the unity of the EU member states. We have made it clear that the payment proposed by Russia is a unilateral change that is not justified and must be rejected, the commissioner stressed.
As for what the companies that have to pay Gazprom to do within May should do, Ms. Simpson stressed that the method proposed by Putin’s decree is a violation of sanctions and can not be accepted. “There should be no illusions that we can rely on Russia’s goodwill,” Simpson said.
The council’s French Minister for the Environment and Energy, V. Pompili, confirmed that there had been agreement from all Member States that sanctions against Russia should be implemented and that paying for gas contracts in rubles constituted a breach of sanctions.
According to Ms. Simpson, in the coming days more detailed instructions will be issued on what companies can and cannot do in relation to the issue of Gazprom payment and what constitutes a violation of sanctions and what does not.
According to the Energy Commissioner, 97% of contracts with Gazprom explicitly state that payments are made in euros or dollars. We have made it clear that we will not pay in rubles the way dictated by Putin’s decree, the Energy Commissioner concluded.
Asked if any companies have already opened a ruble account, Ms Simpson said the commission had no information on the matter, adding that no company had said it intended to do so.
Also, according to the Energy Commissioner, today, gas reserves in the EU are 32% full and continue to be full. According to her, all countries have drawn up contingency plans in the event of a complete shutdown of gas by Russia.
French Environment Minister: EU Energy Council reaffirms unity and strong solidarity between EU countries
“EU Energy Council reaffirms unity and strong solidarity between EU countries” in the face of the energy challenges posed by Russia’s “unilateral” decision to cut off gas supplies to Poland and Bulgaria, the French Environment Minister said. and Council President Barbara Pompili.
“We condemn the unilateral decision of Russian Gazprom to suspend gas supplies to Poland and Bulgaria and reaffirm that all suppliers must live up to their obligations under the terms of their contracts,” she said. “We will continue to work with the Commission and the companies on a common approach to payment methods that is compatible with EU rules and respects contracts. The Commission has already made public the first directions,” he added.
According to Ms. Pompili, the ministers of Bulgaria and Poland have informed the Council that there is no immediate risk of disruption of gas supplies, neither to consumers nor to industry in the two countries. However, the situation will be closely monitored, with the first “regional Task Force” visiting Sofia on May 5th to assess the situation.
In general, Ms. Pobili stressed that Russia’s “unilateral” decision reinforces the EU’s need to reduce its dependence on Russian fossil fuels. “Ministers have examined the level of EU preparation for next winter and we will continue to work in concert on security of energy supply for all Member States. “more alternative suppliers and monitor the situation,” said the French minister, noting that all member states have already begun to fill their gas reserves.
In addition, the French minister stated that “the Member States are working with the Commission to implement the common gas supply platform, which will be a significant step forward”.
Source: Capital

Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.