Saturday, 12 Jul 2025
America Age
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Font ResizerAa
America AgeAmerica Age
Search
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 America Age. All Rights Reserved.
America Age > Blog > World > Finland says Russia suspending natural gas supplies
World

Finland says Russia suspending natural gas supplies

Enspirers | Editorial Board
Share
Finland says Russia suspending natural gas supplies
SHARE

COPENHAGEN, Denmark (AP) — Russia will cut off natural gas to Finland after the Nordic country that applied for NATO membership this week refused President Vladimir Putin’s demand to pay in rubles, the Finnish state-owned energy company said Friday, the latest escalation over European energy amid the war in Ukraine.

Finland is the latest country to be cut off from an energy supply that is used to generate electricity and power industry after refusing Russia’s decree. Poland and Bulgaria were cut off late last month but had prepared for the loss of gas or are getting supplies from other countries.

Putin has declared that “unfriendly foreign buyers” open two accounts in state-owned Gazprombank, one to pay in euros and dollars as specified in contracts and another in rubles. Italian energy company Eni said this week that it was “starting procedures” to open a euro and a ruble account.

The European Commission, the European Union’s executive arm, has said countries making a payment in the currency listed in their contracts and formally signaling that the payment process is concluded is acceptable under EU sanctions. But it says opening a second account in rubles would breach them.

That’s left countries scrambling to decide what to do next. Finland refused the new payment system, with energy company Gasum saying its supply would be halted Saturday.

CEO Mika Wiljanen called the cutoff “highly regrettable.”

But “provided that there will be no disruptions in the gas transmission network, we will be able to supply all our customers with gas in the coming months,” Wiljanen said.

Natural gas accounted for just 6% of Finland’s total energy consumption in 2020, Finnish broadcaster YLE said. Almost all is imported from Russia. That pales in comparison to big customers like Italy and Germany, who get 40% and 35% of their gas from Russia, respectively.

According to Gasum, Russian state-owned energy giant Gazprom said in April that future payments in the supply contract be made in rubles instead of euros.

It comes after Finland, along with Sweden, applied to join the NATO military organization, marking one of the biggest geopolitical ramifications of Russia’s war on Ukraine that could rewrite Europe’s security map.

Meanwhile, Italian company Eni said Tuesday that it was moving to follow Putin’s decree “in view of the imminent payment due in the coming days” but did not agree with the changes.

Italian Premier Mario Draghi has said he believes it is a violation of the contract, and has called on the European Commission to make a ruling so companies know if compliance violates sanctions.

Share This Article
Twitter Email Copy Link Print
Previous Article Red Power Ranger actor Austin St. John charged in wire fraud conspiracy indictment Red Power Ranger actor Austin St. John charged in wire fraud conspiracy indictment
Next Article G7 agree pact to better prepare for future pandemics G7 agree pact to better prepare for future pandemics

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
TwitterFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

Popular Posts

Energy & Environment — EPA updates fuel blend proposal

The EPA issues new proposed biofuel blending rules, the FBI and the Bureau of Indian…

By Enspirers | Editorial Board

Russia-Ukraine latest news: Volodymyr Zelensky accuses Nato of giving ‘green light to bombing’

Ukraine's president has accused Nato of giving a "green light" to Russian bombing because the…

By Enspirers | Editorial Board

ESPN Is Reportedly Warming Up To Concept Of 1 Analyst Calling Extra Video games Subsequent Season

(Picture by Luke Hales/Getty Pictures)   ESPN is as soon as once more attempting to…

By Enspirers | Editorial Board

Brazil high court orders pro-Bolsonaro roadblocks cleared

RIO DE JANEIRO (AP) — Brazil's Supreme Court on Tuesday ordered the federal highway police…

By Enspirers | Editorial Board

You Might Also Like

Israeli settlers kill American-Palestinian visiting family members in West Financial institution, says household
World

Israeli settlers kill American-Palestinian visiting family members in West Financial institution, says household

By Enspirers | Editorial Board
Starmer and Reeves promised honesty about public funds. Can they keep the course?
World

Starmer and Reeves promised honesty about public funds. Can they keep the course?

By Enspirers | Editorial Board
Thames Water spent £136m on securing emergency funding, leaked doc suggests
World

Thames Water spent £136m on securing emergency funding, leaked doc suggests

By Enspirers | Editorial Board
Kneecap could also be dropped from lineup at Wythenshawe Park in Manchester
World

Kneecap could also be dropped from lineup at Wythenshawe Park in Manchester

By Enspirers | Editorial Board
America Age
Facebook Twitter Youtube

About US


America Age: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company
  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement
Contact Us
  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability
Terms of Use
  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© 2024 America Age. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?