As the war in Ukraine rages on, Russia has announced that it will cut off gas supplies to the Netherlands from Tuesday, 31 May, Reuters reported.
The Dutch state-backed company GasTerra confirmed this on Monday after it refused to pay its supplier, the Russian state-controlled company Gazprom, in roubles.
"Gas trader GasTerra has decided not to comply with Gazprom's unilateral payment requirements," the company said in its statement.
While asserting that it has anticipated Russia's move, GasTerra also stated, "The European gas market is highly integrated and large. It is impossible to say in advance what effect the loss of 2 billion cubic meters of Russian gas will have on the supply/demand situation, and whether the European market can absorb this loss of supply with limited consequences."
The Netherlands will join Finland, Poland, and Bulgaria on the list of countries that have been targeted by Russia with the weaponisation of gas.
According to government numbers, approximately 44 percent of Dutch energy requires gas, but only about 15 percent of that gas comes from Russia.
Russia, to a large extent, is monopolistic, when it comes to supplying gas to Europe.
Countries like Austria, Lithuania, and Finland rely almost entirely on Russia for gas. Others like Germany, Poland, France, and Italy also need Russia for the same, some more than others.
You can read more about European dependence on Russian energy here.
(With inputs from Reuters and the NL Times.)
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