Russia retaliates and cuts gas supplies from Poland and Bulgaria

2022-04-27 13:42:13 GMT (Economies.com)
Russia retaliates and cuts gas supplies from Poland and Bulgaria

Russia has retaliated against several European countries by banning gas supplies to them, especially Poland and Bulgaria.

 

Such a move came as both countries failed to adhere to the condition of purchasing the gas with the Ruble.

 

This is the first time that Russia has cut supplies to European clients since launching its attack on Ukrainian land on February 24.

 

Polish sources asserted that Russian supplies were indeed cut from the country, with reserve covering the next month at least.

 

Poland criticized Russia for not adhering to their contracts, as the west and Russia continue to trade blows. 

 

Naturally, gas prices surged by over 15%m, surpassing $1300 per thousand cubic meters.

 

Most European stocks took a hit as well after the Russian move. 

 

EU countries are frantically looking for alternatives so far for gas supplies to move beyond dependence on Russian supplies. 

 
 
 
  Symbol Last Change Chg.%
1.0748
0.0095
0.8951%
1.2628
0.0065
0.5214%
22.083
0.171
0.783%
113.783
3.644
3.308%
117.32
-0.07
0.06%
1853.855
-2.580
0.139%
 
 
Live Forex Updates