Energy crises

Russia's Gazprom announced on Tuesday that it was suspending gas supplies to the Danish company Orsted and Shell Energy under its gas supply contract with Germany. The reason is the refusal to pay for the raw material in Russian rubles, Reuters reported.

How will Europe pay for gas from Russia - in euros, dollars or rubles? In recent days, information has emerged that Germany and Italy have agreed to pay for Russian gas to Gazprom in rubles and will not stop their supplies. This is not true.

Bulgaria will sign a contract for the design of a new gas interconnector with Serbia, it became clear during a regional energy meeting in Sofia.

It was attended by the Ministers of Energy of Bulgaria, Greece, Romania, Turkey, Azerbaijan, Ukraine and North Macedonia.

The key topic of discussion during the meeting was energy security and independence of the whole region.

Russia has sold fossil fuels worth 46.6 billion euros to European Union countries since the start of the war in Ukraine on February 24 this year, according to the Finnish-based Center for Energy and Clean Water Research (CREA). In fact, since the start of hostilities, despite talks about a possible energy embargo, Russia's revenue from selling them has doubled.

The European Union and Russia have been in a standoff over gas supplies

Greece plans to pay Russia's gas supplier Gazprom next month in a way that will not violate European Union sanctions against Russia. This was stated by the Minister of Energy Kostas Skrekas.

Russia cut off gas supplies to Bulgaria and Poland

Europe can get by without Russian gas for six months, but beyond that, the economic impact would be severe, a senior IMF official told AFP.

Alfred Kammer, head of the IMF's European Department, urged countries in the region to take a series of steps to ease the blow, including reducing consumption to build up inventory.

Bulgaria has received an official letter from Gazprom demanding that the payment for Russian gas be in rubles. This was confirmed to Nova TV by Energy Minister Alexander Nikolov.

Our country agrees with the common position of the European Union that it will not comply with the change of currency.

In the shadow of the energy crisis in Europe but also of the frosty EU- Russia relations, because of Nord Stream 2, Athens and Moscow are in negotiations for the gas supply contract between Gazprom and DEPA Commercial.