Russian Energy Giant Gazprom Stops Gas Flow to Latvia

Russia's largest company Gazprom has announced that it has stopped the gas flow to Latvia, which it said violated the conditions regarding gas payments.

The tensions between Europe and Russia over the energy problems caused by Russia's invasion of Ukraine and the subsequent imposition of sanctions have flared up again with a new move from Gazprom that will raise tensions. Gazprom, the world's largest natural gas extractor, said it stopped gas flow to neighboring Latvia on the grounds that it violated the conditions set for payment terms. Gazprom's decision came a day after Latvian Energy Minister Latvijas Gaze stated that they buy gas from Russia in euros instead of rubles. Gazprom had recently decided to halt gas deliveries to Poland, Bulgaria, Denmark, Finland and the Netherlands for non-payment in rubles. At the end of March, Russian President Vladimir Putin signed a decree requiring unfriendly countries to pay for gas in rubles. According to the decree, the countries receiving Russian gas must open accounts with Gazprombank, and after making payments to this bank, the funds will be converted into rubles on the Moscow Stock Exchange.

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