Russia's Gazprom, said it has cut Natural-Gas supply to the Netherlands, after Dutch Trader GasTerra, refused to pay in Rubles. Denmark's Orsted has also Rejected the Demand and warns its Supplies from Gazprom could be cut.
In a March 31st Decree, Russian President Vladimir Putin demanded that Natural-Gas payments be made in Rubles, which would entail opening a Euro and Ruble Account with Gazprombank in Moscow, to process Payments.
"GasTerra will not go along with Gazprom's payment demands," said GasTerra, which is partly owned by the State and Trades on behalf of the Government.
"This is because to do so would risk breaching sanctions imposed by the EU and also because there are too many financial and operational risks associated with the required payment rout," the Dutch company wrote in a Press Release on Monday. "In particular, opening accounts in Moscow under Russian law and their control by the Russian regime pose too great a risk."
The Dutch Government said it understands GasTerra's Decision Not to comply with Gazprom's Demand to Pay in Rubles. "This decision has no consequences for the physical supply of gas to Dutch households," Dutch Climate and Energy Minister Rob Jetten said, on Twitter on Monday.
The Netherlands relies on Russia for about 15% of its Gas Supplies, per Reuters.
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