Russia cuts off gas supply to Poland over Putin's insistence to only accept payment in rubles (to prop up it up) when the original contract price was written in Euros. Guessing Germany will be next to get cut off.
Russia's probably going to default sooner rather than later at this rate. They won't be able to keep paying their bills when a quarter of the budget just goes poof.
Quote:
Russia has halted gas deliveries to Poland, according to news website Onet.pl, the latest ratcheting up of tensions between Moscow and European capitals over crucial energy supplies.
European gas prices surged as much as 17% after the report, which cited government sources it didn’t name. Without confirming the report, the Polish government said it has enough gas in storage, and the gas system operator said it was ready for potential cuts.
Moscow and Europe are locked in a standoff over how gas should be paid for and President Vladimir Putin has threatened to halt supplies if his demands aren’t met. The Kremlin has said that gas must be bought in rubles but the European Union considers that would breach sanctions — and also strengthen Putin’s hand unacceptably.
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https://financialpost.com/pmn/busine...net-pl-reports