Russia stops supplying gas to the Netherlands

Updated: Jul 16

According to Gazprom, Dutch state-owned energy business GasTerra failed to make a necessary payment in rubles.

Following its decision not to pay for supplies in rubles, the Netherlands has joined the list of nations that no longer import Russian natural gas. The state-owned energy distributor GasTerra in the Netherlands no longer receives any gas, according to a statement made on Tuesday by the Russian energy giant Gazprom.

The Russian firm said in a statement that it had not received payment from GasTerra B.V. as of the end of the business day on May 30 for the gas it had supplied in April.

Earlier, GasTerra claimed to have taken steps to make up for the gas shortage.

"Gazprom has stopped supplying gas, which implies that up to October 1, 2022, when the contract expires, about 2 cm of contracted gas won't be delivered. GasTerra has prepared for this by getting gas from somewhere else, according to a statement from the Dutch firm.

Gazprom cut down gas deliveries to Finland in May after suspending them to Bulgaria and Poland in late April. Denmark, which rejected Russia's demand for a ruble payment, now risks a supply block as well.

According to Moscow's new payment system, gas purchasers from "unfriendly" nations that have sanctioned Russia must register accounts with Gazprombank. Following that, they can make a deposit in the currency of their choice, which the bank will then convert to rubles and send to the provider.

Germany and Italy reportedly let national businesses open ruble accounts with Russia's Gazprombank earlier this month to comply with the new natural gas payment system and prevent a supply interruption.

According to the Russian Energy Ministry, twenty European businesses have so far opened ruble accounts in total.

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