German Finance Minister Christian Lindner stated that Germany will no longer pay for Russian gas supplies in rubles.
He stated, “Addressed to Putin , I say very clearly: we will not be blackmailed! We will not pay for Russian gas in #Rubel in the future either.”
An #Putin gerichtet, sage ich ganz deutlich: Wir lassen uns nicht erpressen! Auch künftig werden wir russisches Gas nicht in #Rubel bezahlen. Klar ist: Wir unternehmen alles, um schnellstmöglich unabhängig von Russland zu werden. Mehr dazu in meinem Interview mit @FunkeBerlin. CL https://t.co/7jo5RQgoIo
— Christian Lindner (@c_lindner) April 30, 2022
According to Bloomberg, the trading firm, one of many that import gas to Germany, is still in talks with Gazprombank to complete the transaction.
The standoff occurs as the Kremlin uses its energy exports to retaliate against Western nations that have sanctioned Russia for its involvement in the Ukraine conflict.
GM&T was previously owned by a German subsidiary of Russia’s state-owned Gazprom, but Germany took over the unit in April. Now, the rejected ruble payment suggests that Moscow is attempting to isolate a German-controlled GM&T.
Putin stated that switching to rubles would help protect Russia’s massive gas revenues from EU sanctions or seizure. The move also appeared to be aimed at ensuring that Gazprombank, one of the few large state banks spared the harshest sanctions, would be largely unaffected.
Putin has also repeatedly emphasised the economic and political costs of higher energy prices in Europe, implying that the Kremlin believes western governments will be unable to withstand the domestic pressure of a cutoff for as long as Moscow can.
