April 28, 2022 - 12:40 PM 280 views
According to the financial time reports, the energy companies from
Germany, Austria, Hungary, and Slovakia are willing to agree with the Kremlin
rules, which threaten the European Union’s (EU) unity and sanctions, and they
are ready to accept the new payment system for Russian gas.
Additional Key Points
Gazprom, the Russian state-controlled gas supplier, has begun
negotiating with the Utilities team, and they have yet to strengthen and finalize the payment deadlines.
Italy’s Eni, the biggest customer for Gazprom’s company, is scrutinizing the various other options for fuel supply.
The Rome-backed firm has time till the end of May to make a
definitive decision and until its next payment for Russian supply is due.
These preparations clearly demonstrate the Russian government's
determination to weaponize fuel gas supplies and openly challenge the European
Union's (EU) ability to maintain a united front against Moscow.
The Market Reaction
Restless purchases of the US dollar
and the EU-Russian energy crisis have impacted the EUR/USD pair, which seems to
have broken below 1.0500, and the spot difference is down by 0.41% on the day.