Gazprom cuts gas to two energy firms in Denmark and Germany

Denmark has become the fifth country to be cut off from Russian natural gas following the refusal of its biggest power wholesaler Orsted to pay for deliveries in rubles. Supplies to Shell Energy Europe Limited in Germany have also been halted for the same reason.

Russia’s new payment mechanism requires gas buyers from “unfriendly” countries that have placed sanctions on Moscow to open accounts in Russia’s Gazprombank. They can then deposit funds in their currency of choice, which the bank converts to rubles and transfers to Gazprom.

The Russian energy giant recently suspended gas exports to Bulgaria, Poland, Finland and the Netherlands after they refused to comply. According to the Russian Energy Ministry, about two dozen European companies have so far opened ruble accounts. RT

European Union to cut Russian oil imports by 90 percent by the end of the year

European Union to cut Russian oil imports by 90 percent by the end of the year

EU leaders on Monday agreed at a summit focused on helping Ukraine to ban most Russian oil imports to the European bloc by the end of the year.

The agreement covers more than two-thirds of Russia’s oil imports. The EU agreement is expected to effectively cut oil imports by about 90% by the end of the year.

It also agreed to provide 9 billion euros in aid to support Ukraine’s economy. But it is unknown at this time that if the amount will be a loan or a grant .
This is the sixth EU embargo on Russia. Earlier, the United States and Europe had imposed various sanctions on Russia.

Russia must return to pre-invasion position for agreement – Zelensky

Ukraine’s president has said any peace deal with Russia will depend on whether the Russian military returns to its pre-invasion position or not.

Speaking to a London think tank, Volodymyr Zelensky said that it is the minimum condition that he and his country could accept. He did not mention the annexation of Crimea, which was annexed by Russia in 2014, although he said he is the leader of the whole of Ukraine, not of mini-Ukraine.

In an interview with the London House of Think Tank, Zelensky said that the war between Russia and Ukraine could be stopped only if Russia agrees to come to the position before February 23. which clearly means that Russia must be ready to return the territory it occupied after Russia invaded Ukraine.