Russia’s Gazprom today cut off gas exports to neighboring Finland, the Finnish gas transmission system operator said, in the latest escalation of a dispute with Western countries over energy payments.
Gazprom Export has demanded that European countries pay for Russian gas supplies in rubles due to sanctions imposed for Moscow’s invasion of Ukraine, but Finland has refused to do so.
“Gas imports through the Imatra entry point have stopped,” Gasgrid Finland said in a statement.
Imatra is the entry point for Russian gas into Finland.
Finnish state-owned gas company Gasum said yesterday that Gazprom had warned that the flow would be cut off from 07:00 this morning.
Gasum confirmed today that the flow has been stopped.
“Gas supplies to Finland under the Gasum supply contract have been suspended,” it said in a statement.
“Starting today, during the upcoming summer season, Gasum will supply gas to its customers from other sources via the Balticconnector pipeline.
The Balticconnector connects Finland to the gas network of neighboring Estonia.
Most of the gas used in Finland comes from Russia, but gas accounts for only about 5% of its annual energy consumption.
Many European energy supply contracts are in euros or dollars, and Moscow cut off gas supplies to Bulgaria and Poland last month after refusing to comply with the new payment terms.
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.
