Russia says no more gas unless sanctions are lifted

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Russia says no more gas until sanctions are lifted making good on its threat to cut off supplies.

The Kremlin made the announcement on Monday, September 5 with Dimitri Peskov, the Kremlin spokesman.

The Interfax news agency quoted Peskov as saying that Russia will not resume gas supplies to Europe until the West lifts sanctions on Moscow for invading Ukraine.

He said that the only reason for the lack of supply is the western sanctions and in particular, those imposed by Germany and the UK. Continuing he said that Russia was unable to carry out essential maintenance work because of the sanctions, adding that: “It is these sanctions imposed by Western states that have brought the situation to what we see now.”

Gazprom, the Russian state consortium had said on Friday that the pumping of gas was being stopped completely. In the announcement, the company said that an alleged “oil leak” had been detected during maintenance of the only compressor station still in operation.

The company said: “Until the malfunction of the equipment is eliminated, the transit of gas through the Nord Stream gas pipeline is completely suspended.”

Supply to Europe was already down to 20 per cent due to scheduled maintenance.

At the time the Deputy Head of the Russian Security Council and Former President, Dmitry Medvedev, had warned that “there will be no Russian gas” in Europe if a price cap is implemented.

The announcement today has resulted in gas prices jumping 30 per cent and the euro falling to its lowest value against the dollar since 2002.

With Russia going through with its threat as it says no more gas unless sanctions are lifted, it remains to be seen what action the west will take. It does seem, however, that the only solution to the problem is to get around the negotiation table but there seems little appetite for that in Russia.

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