© Reuters. FILE PHOTO: A mannequin of the pure fuel pipeline is positioned on Russian rouble banknote and a flag on this illustration taken, March 23, 2022. REUTERS
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(Reuters) -Following are reactions to Russian President Vladimir Putin saying international consumers of Russian fuel should pay in roubles from April 1, and that contracts could be halted if these funds weren’t made.
GERMAN ECONOMY MINISTER ROBERT HABECK
“With regard to the menace, demand or consideration – one does not know find out how to name it any extra – to be made to pay in rouble, it’s essential for us that the contracts are revered.”
“It is vital for us to not give a sign that we’ll be blackmailed by Putin.”
GERMAN CHANCELLOR OLAF SCHOLZ
“By all means, it stays the case that corporations need, can and pays in euro.”
GERMAN FINANCE MINISTER CHRISTIAN LINDNER
“We’re satisfied that contracts are contracts. The contracts are based mostly on euro and so we’ll proceed to pay for vitality imports in euro.”
“We’ll look intimately into what’s being proposed and demanded. However it’s clear for us there will be no political blackmail.”
FRENCH ECONOMY MINISTER BRUNO LE MAIRE
“Contracts are contracts.”
DUTCH GAS TRADING CORPORATION GASTERRA
“Worldwide agreements comprise clauses about funds and forex. Sticking to the settlement stays our place.”
DUTCH ENERGY COMPANY ENECO
After Putin’s announcement, a spokesperson mentioned there was no change to the next assertion, which it made the day past:
“Eneco has a long-term contract with Wingas, a German subsidiary of Gazprom (MCX:), for supply till 2030. Eneco expects its present contract with Wingas in euros to be honoured.”
POLISH GAS COMPANY PGNiG
“PGNiG does not present detailed feedback on contractual clauses. The corporate stays in present contact with Gazprom,” the corporate press workplace mentioned.
Danish vitality agency, Orsted (OTC:), which has a long-term take-or-pay contract with Gazprom, mentioned it was nonetheless ready to listen to from the Russian agency and declined to remark additional.
BRITISH PRIME MINISTER BORIS JOHNSON’S SPOKESPERSON
Requested if there have been any circumstances wherein Britain would pay in roubles for Russian fuel:
“That’s not one thing we will likely be trying to do.”
ANALYSTS AT FITCH SOLUTIONS
“Probably, the Kremlin is performing from a worry that Gazprombank will quickly be sanctioned too, amid a wider bid by the European Union to chop vitality ties with Russia fully.”
“The long-term contracts for purchases from Russia are denominated in EUR (euros) and due to this fact, with out contract renegotiation, there isn’t a authorized foundation for Russia to implement this demand.”
“Russia must bodily halt fuel flows to EU 27 (European Union member states) to power the difficulty, marking a serious escalation not even carried out on the top of the Chilly Battle. It might mark one other main monetary blow to Russia’s coffers.”
