Sky's Ed Conway says the Russian president's decision to turn off the gas taps to Poland and Bulgaria is part of a huge power game that could ultimately punish Europe's largest economy.
Ukraine war: What impact will Russia's decision to cut off gas to Poland and Bulgaria have on Europe?
Doesn't this episode count as an interruption, or at the very least a"problem"? Shouldn't it have given Schröder et al pause for thought? Ah, tut the technocrats in Berlin. Roll on to today, and now Poland and Bulgaria have been disconnected from Russian gas. And lo and behold, the explanation technically comes back to another contractual dispute. Russia has insisted on being paid not in euros, as these contracts invariably are, but in roubles, the Russian currency.It isn't, as far as anyone can tell, necessitated by the sanctions on Russia. There is no reason why Gazprom couldn't accept the euros for the gas and convert them into roubles itself.
Poland has plenty of gas in storage and plans, by the end of the year, to start importing liquefied natural gas instead of the stuff piped in from Siberia. Bulgaria is more reliant on Russian pipeline gas, but is also due to be connected to a new pipeline which will allow it to receive gas from Azerbaijan via Greece.
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