Moscow Says Russia Will Not Supply Gas to Europe for Free

russian oil

After the G7 nations refused Russia’s demand that unfriendly countries must pay in roubles for its gas due to the series of EU and US-imposed sanctions on Russia, Kremlin said on Monday it will not supply Europe with gas for free.

Kremlin spokesman Dmitry Peskov has stressed that it’s hardly possible and appropriate for Russia, being in the current situation, to engage in charity with European customers.

Peskov added that should the European countries refuse to pay in the Russian currency, Russia will take decisions in due course.

Meanwhile, Russian institutions are working out methods for accepting payments in roubles for its gas exports with Gazprom – which accounts for 40% of European gas imports- the Russian central bank and the government is scheduled to present their proposals to Russian President Vladimir Putin by March 31.

According to economists, Putin’s demand is apparent try to support the collapsed national currency, which has lost a significant part of its value against other currencies since the beginning of the invasion of Ukraine on Feb. 24.

While European companies and EU nations are scrambling to understand the ramifications of the demand, concerned over the security of supply, no common position emerged on Russia’s demand during the European Union leaders’ meeting on Friday,

The energy ministers from the G7, however, rejected in the meantime the rouble payment demands, agreeing that Moscow’s demand is a unilateral and clear breach of existing contracts.

After the discussion with his counterparts from the Group of Seven industrialized nations, Germany’s economy and climate protection minister Robert Habeck pointed out that payment in roubles is unacceptable since the existing contracts are valid and the companies must respect them.

He added that they’ll call on the concerned companies not to comply with Putin’s demand.

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