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Friday, May 20

Russia to cut off gas supplies to Finland starting tomorrow

Finland says Russia is cutting off natural gas supplies (msn.com) - CBS News May 20

Russia will cut off natural gas to Finland after the Nordic country refused President Vladimir Putin's demand to pay in rubles, the Finnish state-owned energy company said Friday. The cutoff, coming the same week that Finland applied for NATO membership, is the latest escalation over European energy amid the war in Ukraine. [...]

From   • Chart: Which European Countries Depend on Russian Gas? | Statista:

Some smaller European countries rely exclusively on Russian gas, namely North Macedonia, Bosnia and Herzegovina and Moldova. Dependence also was above 90 percent of gas supply in Finland and Latvia and at 89 percent in Serbia, as per the latest available data. [...]

So, what is Finland going to do?  Maybe try the same thing Poland is doing -- have Germany buy the gas for them, which I will assume is at a steep markup when shipped through to Poland.

See also:

German Utility Will Still Buy Russian Gas Under Euros-to-Rubles Scheme (businessinsider.com) - May 11.  The question is how long the scheme will hold; from the report it's guaranteed until the end of this month; after that is unclear.  

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