G7 Energy Ministers Reject Demand for Ruble Payment for Gas Supplies

Source: www.gulfoilandgas.com 3/28/2022, Location: Asia

The energy ministers of the G7 countries and the EU Energy Commissioner met again today at the invitation of Federal Minister of Economics Habeck and discussed Putin's announcement that he would only accept rubles for gas deliveries. They agreed to reject such a claim.

After the meeting, Federal Economics Minister Robert Habeck said: “I convened today's G7 meeting in order to come to a coordinated position on Putin's announcement. All G7 agree that this is a unilateral and clear breach of the treaties. In most cases, the applicable supply contracts for natural gas from Russia provide for the euro as the specified means of payment. We see no reason to deviate from the contractually agreed conditions. President Putin's demand for payment in rubles has no legal basis. The G7 therefore clearly reject President Putin’s demand.”

The joint text of the G7 energy ministers can be found here.

The G7 energy ministers last exchanged views on the situation in Ukraine and the turmoil on the international energy markets on March 10. In addition to Germany, the G7 includes the USA, Canada, Great Britain, France, Italy, Japan and the European Union. Germany currently holds the G7 presidency.


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