The EU's von der Leyen on Russia's gas embargo: Mapping out a coordinated reaction

"It's Russia’s another attempt to blackmail us with gas via Gazprom’s announcement," said European Commission President Ursula von der Leyen on Wednesday.

April 27, 2022 - 04:44 PM 306 views

image-caption

Market News

© image-caption

Free Enquiry Now

"It's Russia’s another attempt to blackmail us with gas via Gazprom’s announcement," said European Commission President Ursula von der Leyen on Wednesday.

Further, they are prepared for this kind of situation, and they also mapped a plan via coordinated EU response, and he believes that Europeans stand in integrated unity with the impact of the other member states.

In the meantime, the Russian parliamentary speaker said that the gas buyers need to pay money in the form of roubles, otherwise they will face cuts. Adding to this, the speaker said that Moscow will also create the same scenario in regards to the other unfriendly countries.

Prior to this, Gazprom turned off gas supplies to Poland and Bulgaria and decided to keep them off until they agreed to Moscow’s demand to pay the fuel cost in roubles.

According to Bloomberg, "As per the Russian blackmail of paying fuel money in roubles, it appears that the other four European countries have agreed to pay fuel costs in roubles."

 The Market Reaction

The EUR/USD is languishing around 1.0600, vulnerable due to the Russia-EU energy dispute and a broadly stronger US currency. On the day, the key currency pair is down 0.37 percent.

Share With -

 

No comments yet for this post

Please Login to comment this article.

If not a registered user yet, Please signup here