< Arab Finance - News - Ukraine cuts off portion of Russian gas supplies to Europe

Market is closed

EGX 30 0.00 0.00%

Count Down to relaunch



Ukraine cuts off portion of Russian gas supplies to Europe

Ukraine cuts off portion of Russian gas supplies to Europe

Ukraine has announced cutting some Russian gas supplies to Europe in the heat of violent skirmishes around the Ukrainian city of Kharkiv, Reuters reported on May 11th.

Ukrainian gas transmission operator redirected gas from the Sokhranivka transit point to another area in Ukraine due to the occupation of Russian forces of the supply point.

The redirection caused a suspension in gas supplies from Russian points which comes after Moscow escalated attacks against Kyiv.

Late April and early May, Russia cut off gas supplies to Poland and Bulgaria, sending a clear message to the rest of the continent regarding its willingness to live up to its threats of a massive halt on flows.

According to Bloomberg, four European gas buyers made payment in rubles, while ten European companies opened accounts at Russian’s Gazprombank.

Russia supplies most of Europe’s gas needs. According to the International Energy Agency (IEA), the EU imported 155 billion cubic meters of natural gas from Russia, accounting for around 45% of the bloc’s gas imports and close to 40% of its total consumption.

#Related keywords

Recommended Stocks

13 Jun 2022
Delta Sugar SUGR
Close
15.34
Change
04.78
Hold

All rights reserved to Arab Finance 2020 ©

Back to top