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