Tag Archives: Germany

Germany and Italy have allowed national companies to open ruble accounts in Russia’s Gazprombank to comply with the new natural gas payment scheme and avoid a supply cut-off, Reuters reported on Friday, citing sources. The move comes after Poland, Bulgaria and most recently Finland refused to accept Russia’s new payment …

Germany said Russia is using energy as a “weapon” after Moscow reduced natural gas supplies in retaliation for Europe’s penalties over the war in Ukraine. A unit of Gazprom PJSC that was seized by Germany has had its deliveries reduced by about 10 million cubic meters a day, according to …

A refinery owned by French supermajor TotalEnergies in Germany is expected to continue importing Russian crude oil via pipeline at least through the end of this month, sources familiar with the matter told Reuters on Tuesday. The 240,000-barrels-per-day refinery Leuna in eastern Germany is one of two facilities in Germany …

Oil prices have risen for a fourth consecutive day with concerns over Russian supply disruptions trumping reduced demand expectations in China. Brent Crude climbed 1.7 percent to $109.40 per barrel, while WTI Crude moved up 1.03 percent to $106.50 per barrel. Both contracts are set to finish up on the …

The German government is said to be planning a law to speed up the construction of import terminals for liquefied natural gas (LNG), as Berlin seeks to find alternative sources of energy to lessen its dependence on Russian imports. The draft law to accelerate LNG projects in northern Germany was …

Inflation in Germany rose at its fastest pace in four decades, data published Thursday (28 April) showed, as Russia’s invasion of Ukraine pushed up energy prices. Consumer prices were 7.4% higher in April compared to a year ago, according to the federal statistics agency Destatis. In March, the corresponding figure …

A group of lawmakers from all political groups in the European Parliament has urged Germany to impose an embargo on Russian energy imports amid rumors that the EU would slap its sixth sanctions package later this week, according to a news report on Monday. In a letter dated Saturday and …

Companies buying Russian natural gas should not have to set up ruble accounts to pay for it, German Finance Minister Christian Lindner said, pushing back against a demand made last month by Russian President Vladimir Putin. “Contracts are contracts,” Lindner said Wednesday in an interview with Bloomberg Television in Washington. …

Germany could end Russian oil imports this year, Chancellor Olaf Scholz said on Friday, signaling the urgency driving Europe’s biggest economy to wean itself off energy from Russia. “We are actively working to get independent from the import of (Russian) oil and we think that we will be able to …

Gazprom Germania, an energy trading, storage and transmission business under Russia’s natural gas giant Gazprom, will be transferred to Germany’s regulator to ensure energy security, Economy Minister Robert Habeck said on Monday. All voting rights in the company will be transferred to the regulator, the Bundesnetzagentur, Habeck told a news …