Posted on 04/30/2022 6:46:35 AM PDT by marshmallow
Uniper said it had no choice but to follow Russia's conversion plan
German energy company Uniper has conceded to Russia’s demands and will utilize the ruble conversion plan outlined by Moscow despite concerns it will undermine sanctions.
Moscow threatened to pull the plug on Europe’s gas supply unless the companies fulfilled their payments in rubles. The Kremlin worked with Russian gas company Gazprombank to establish a system that would allow companies to deposit foreign currency in one account while Gazprom would complete the transactions in rubles.
Uniper said Thursday that it had no choice but to use the system, and a spokesman told the BBC that he was confident the transaction still abides by EU sanctions.
"For our company and for Germany as a whole, it is not possible to do without Russian gas in the short term; this would have dramatic consequences for our economy," the spokesman said.
Other European energy firms reportedly have planned to follow suit and utilize the Russian scheme.
The European Commission last week advised companies that Moscow’s plan may not violate sanctions, stressing that compliance would likely be necessary to fulfill contractual obligations.
The Commission initially said the program could breach sanctions, but this week advised that the proposal does not necessarily violate the sanctions, Reuters reported.
(Excerpt) Read more at foxnews.com ...
Russia has the upper hand here. Russia has the gas.
Europe has cold winters. And gas pipe lines are already in place.
So exchange your EU dollars...and pay Russia. They have people, too.
Another win for Biden…oh…
Suicide is painless it brings on many changes.
An easy choice today may bring misery tomorrow.
It’s a shame that Germany has no coal reserves. Because if they did, they wouldn’t be held hostage to Putin’s energy demands.
Oh, wait. Germany has billions of tons of coal reserves. So I guess like the rest of the West, Germany is just stupid.
so to buy energy they also have to buy Rubles ,LOL
Should've listened to Donald.
‘Germany is just stupid.’
And, refuses to drill for their own gas.
They also had nuke plants.
It’s a money exchange. We do it everyday with Canada.
My gut says that Germany will let Nord 2 flow. That will save them a sh** load of fees that Ukraine collects on the flow through their pipes.
The truth, German style:
“We can violate EU sanctions but say we are not.”
Maybe Germany can do a “Pact of Steel” with Russia, this time, since we have “Lend Lease”.
I can’t help but wonder what Exchange Rate Gazprom Bank gives these countries...and whether that rate varies, based on the behavior of those countries.
“Oh, wait. Germany has billions of tons of coal reserves.”
The Greens run energy policy in the current German government - but since they hate Putin (because he’s not a Socialist), they’re willing to put up with burning some coal - but for how long?
“They also had nuke plants.”
18 at their peak (before Chernobyl)...now 3, and those are planned to shut down this year. So far, they’re sticking with that plan, at least that’s the last I heard (weeks ago).
Oh well, they can import sweaters...
“My gut says that Germany will let Nord 2 flow. That will save them a sh** load of fees that Ukraine collects on the flow through their pipes.”
I think you’re right - in the end, we’ll be back where we started!
Well, I think we all knew Germany would be the first to fold. Germany has gone from being a militaristic powerhouse to sniveling and cringing cucks in only three generations.
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