EXPLAINER: What’s next for Europe’s natural gas during war?
By The Associated Press
Russian President Vladimir Putin is demanding payment in rubles for natural gas — or else. Germany is talking about gas rationing in case of a cutoff. Prices for the fuel used to heat homes, generate electricity and power industry are through the roof. While Putin has said importers of Russian gas must now pay in rubles, he’s offered what could be seen as a loophole. Europeans would be allowed to pay euros and dollars to a bank and direct it to exchange the money for rubles. Experts say Putin’s decree could be to protect the bank from Western sanctions or seek a political victory at home.
