Russian gas era in Europe ends as Ukraine stops transit
- 01-Jan-2025
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year’s Day, marking the end of decades of Moscow’s dominance over Europe’s energy markets. The gas had kept flowing despite nearly three years of war, but Russia’s gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused […]
Turkey pays for some Russian gas in roubles
- 08-Nov-2022
Turkey has started paying for some its natural gas from Russia in roubles, Turkish Energy Minister Fatih Donmez said on Tuesday. In an interview with broadcaster TRT Haber, Donmez said that in the coming months the share of local currency payments in energy trade with Russia would increase. Russia, hit by Western sanctions over its […]
European stocks slump over Russian gas supply suspension
- 05-Sep-2022
LONDON: European stocks tumbled Monday after Russia indefinitely halted gas deliveries to Germany and effectively to Europe via a key pipeline, sending the euro plunging to a 20-year dollar low. Frankfurt’s DAX index dived 2.9 percent and the Paris CAC 40 shed 2.1 percent, while London’s FTSE 100 dipped 0.9 percent before the announcement of […]
Turkey to pay for some Russian gas in rubles: Erdogan
- 07-Aug-2022
ISTANBUL: President Recep Tayyip Erdogan has confirmed that Turkey will start paying for some of its Russian natural gas imports in rubles. The announcement was initially made by Moscow after more than four hours of talks between Erdogan and Russian President Vladimir Putin in Sochi. The United States is leading international efforts to impose economic […]
Fearing Russian gas shut-off, France’s industry turns to oil
- 11-Jul-2022
France’s energy-intensive companies are speeding up contingency plans and converting their gas boilers to run on oil as they seek to avoid disruption in the event any further reduction in Russian gas supplies leads to power outages. Gathered over the weekend at a business and economics conference in southern France, several top executives said they […]
‘Cut in gas supplies is an economic attack on us’
- 23-Jun-2022
Germany triggered the “alarm stage” of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe’s largest economy. The measure is the latest escalation in a standoff between Europe and Moscow since the Russian invasion of Ukraine […]
Germany risks recession as Russian gas crisis deepens
- 21-Jun-2022
Germany faces a certain recession if already faltering Russian gas supplies completely stop, an industry body warned on Tuesday, as Sweden joined a growing list of European nations rolling out emergency plans to cope with a deepening energy supply crisis. European Union countries from the Baltic Sea in the north to the Adriatic coast in […]