Ukraine Russia Conflict: Some of Europe's largest gas importers agree to pay in roubles to Russia

According to the reports some of Europe’s largest gas importers are preparing to acquiesce to Russian demands that energy must be paid for in roubles. However European Commission President Ursula von der Leyen described the Russian move as "blackmail".

The Financial Times reports says "Some of Europe’s largest energy companies are preparing to use a new payment system for Russian gas demanded by the Kremlin, which critics say will undercut EU sanctions, threaten the bloc’s unity and deliver billions in cash to Russia’s economy. Gas distributors in Germany, Austria, Hungary and Slovakia are planning to open rouble accounts at Gazprombank in Switzerland in order to satisfy a Russian requirement for payments in its own currency, according to people with knowledge of the preparations."

"The groups include two of the single largest importers of Russian gas: Düsseldorf-based Uniper and Vienna-based OMV" the report added.

Meanwhile, Russia on 24th February launched the war on Ukraine. And, according to the latest updates Vladimir Putin has warned any countries attempting to interfere in Ukraine would be met with a “lightning-fast” response from Moscow. Russia has warned other EU customers may be cut off from Russian natural gas supplies if they refuse to pay in roubles. However, the  White House denounced Russia’s move to cut off energy supplies to Poland and Bulgaria. Press secretary Jen Psaki told reporters at a daily briefing on Wednesday: “Unfortunately this is the type of step, the type of almost weaponising energy supplies that we had predicted that Russia could take in this conflict.” Commenting on this Volodymyr Zelenskiy described Russia’s actions as amounting to “energy blackmail” against Europe in his nightly national address. Zelenskiy said Russia’s decision to cut off gas supplies to Poland and Bulgaria shows “no one in Europe can hope to maintain any normal economic cooperation with Russia”.