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In the latest escalation in the Ukraine Russia war, Moscow has threatened to shut the gas supply to Poland. Gas prices surged over 15% as traders' worried that Poland would not be the only EU nation to be affected as Russia continues it's demand to be paid in Rubles. EU nations are facing a deadline for the first payments for April supplies to Russia and the Kremlin is standing pat on the demands of payments and contracts.Poland announced a list of 50 Russian oligarchs and companies, including Gazprom, that would be subject to sanctions under a law passed earlier this month allowing their assets to be frozen.

Ukraine War: Gas prices soar as Russia cuts supply to parts of Europe

Russia weaponises gas, stops supply to parts of Europe

Moscow has threatened to shut the gas supply to Poland and Bulgaria as nations refuse to pay in Rubles. The gas supply reportedly will be shut off by Wednesday morning local time.&nbsp; Putin&nbsp;had declared in March that&nbsp;unfriendly&rdquo; foreign buyers would have to pay Russian gas in rubles instead of dollars and euros. EU nations have resisted as they say it violates norms. 60% of Poland's gas needs comes from Russia but being a transit point for weapons for the western forces has drawn the wrath of the Kremlin.&nbsp; Bulgaria, once one of Moscow's closest allies, cut many of the old ties with Russia after a new liberal government took the reins in the fall and after Putin's military invaded Ukraine. The NATO&nbsp;nation depends on Russia for 90% of it's fuel needs.&nbsp;

Russian energy giant Gazprom told Poland it will halt gas supplies along the Yamal pipeline

In the latest escalation in the Ukraine Russia war, Moscow has threatened to shut the gas supply to Poland and Bulgaria as nations refuse to pay in Rubles.. Gas prices surged over 15% as traders' worried that Poland would not be the only EU nation to be affected as Russia continues it's demand to be paid in local currency.
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The governments of the two European Union and NATO members said Russian energy giant Gazprom informed them it was halting the gas supplies starting Wednesday.
The suspensions would be the first since Russian President Vladimir Putin said last month that &ldquo;unfriendly&rdquo; foreign buyers would have to pay the state-owned Gazprom in rubles instead of dollars and euros.
Around 60 per cent of imports are paid in euros, and the rest in dollars. Putin's demand was apparently intended to help bolster the Russian currency amid the Western sanctions imposed over the war.
European leaders said they would not comply with the rubles requirement, arguing that it violated the terms of contracts and their sanctions against Russia.
Poland's state gas company, PGNiG, said it was informed by Gazprom that its deliveries through the Yamal-Europe pipeline would stop Wednesday at 8 am.
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Later, the Bulgarian Energy Ministry said it was notified that Bulgaria's supplies of Russian gas via the TurkStream pipeline would cease on Wednesday as well.
Poland has been a strong supporter of neighbouring Ukraine during the Russian invasion. It is a transit point for weapons the United States and other Western nations have provided Ukraine.
The Polish government confirmed this week that it was sending tanks to Ukraine's army. On Tuesday, it announced a sanctions list targeting 50 Russian oligarchs and companies, including Gazprom.
The Yamal pipeline carries natural gas from Russia to Poland and Germany, through Belarus. Poland has been receiving some 9 billion cubic meters of Russian gas annually, fulfilling some 45 per cent of the country's needs. Bulgaria, once one of Moscow's closest allies, cut many of the old ties with Russia after a new liberal government took the reins in the fall and after Putin's military invaded Ukraine. The NATO&nbsp;nation depends on Russia for 90% of it's fuel needs.&nbsp; EU nations are facing a deadline for the first payments for April supplies to Russia and the Kremlin is standing pat on the demands of payments and contracts.

Russia-Ukraine war latest news: The west may be imposing sanctions but Putin is playing the card that could make Europe fold at the table. 

Ukraine War: Russia rejects Dollars & Euro, Putin demands Rubles for gas 

The Russian chief ordered the central bank to develop a mechanism to make ruble payments for natural gas within a week at a meeting with his government. 


Russia rejects Dollars & Euro, Putin demands Rubles for gas 

Ukraine War: Germany, the biggest buyer of Russian gas, said the announcement on ruble payments is a breach of the contract

Russia-Ukraine war latest news: The west may be imposing sanctions but Putin&nbsp;is playing the card that could make Europe fold at the table. Russian President is set to demand ruble payments for natural gas purchases from European nations as they face the worst energy crisis in decades.&nbsp;
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The Russian chief ordered the central bank to develop a mechanism to make ruble payments for natural gas within a week at a meeting with his government.
Gas prices surged more 30% while&nbsp;ruble gained 7% against the dollar as Putin is set to&nbsp;force European companies to directly prop up his currency which has been whipsawed after the sanctions.
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Mahanagas Gas has decided to raise prices for CNG as well as domestic piped gas effective immediately affecting 24 lakh consumers across Mumbai. This is the third hike in prices over just the last 6 weeks.According to all-inclusive revised rates, the CNG price will be increased by ₹3.06 per kg and will be available at the rate of ₹61.50 per kg. While the PNG rates will increase by ₹2.26/Standard Cubic Meter(SCM) and will be priced at ₹36.50/SCMFor CNG, the total rise this year has been over ₹12/ per kg this is causing a bit hit to the local taxi and auto operators. Reports indicate that the taxi association of Mumbai have demanded a hike in fares. and the auto cell of BJP threatened to go on a strike and demanded reduction in the price of CNG.However, the MGL said that despite the revised rates, its CNG would help the consumers save around 62 percent and 35 per cent respectively in comparison with  petrol and diesel,  while the PNG users were able to save 27 percent compared with the prices of domestic LPG that is now over ₹1000/cylinder.

Price hike pain: CNG and piped gas prices hiked for third time in six weeks

CNG and piped gas prices hiked again, up for a third time in 6 weeks. Auto and taxi operators threaten strike as they demand a higher fare slab

Price hike pain: CNG and piped gas prices raised again

Mahanagar Gas Limited has decided to hike the prices for CNG&nbsp;and Domestic Piped Natural Gas with effect from Friday midnight in the Mumbai Metropolitan Region

Mahanagas Gas has decided to raise prices for CNG&nbsp;as well as domestic piped gas effective immediately affecting&nbsp;24 lakh consumers across Mumbai. This is the third hike in prices over just the last 6 weeks. According to all-inclusive revised rates, the CNG price will be increased by&nbsp;₹3.06 per kg and will be available at the rate of&nbsp;₹61.50 per kg. While the PNG rates will increase by&nbsp;₹2.26/Standard Cubic Meter(SCM) and will be priced at&nbsp;₹36.50/SCM
Also watch | <a href="https://www.editorji.com/business-news/markets/market-mayhem-new-variant-worries-makes-dow-fall-900-points-crude-crypto-also-collapse-1637981335853" target="_blank">Market Mayhem: New variant worries makes Dow fall 900 points, crude &amp; crypto also collapse&nbsp;</a> For CNG, the total rise this year has been over ₹12/ per kg this is causing a bit of hit to the local taxi and auto operators. Reports indicate that the taxi association of Mumbai have demanded a hike in fares. and the auto cell of BJP threatened to go on a strike and demanded a reduction in the price of CNG. However, the MGL said that despite the revised rates, its CNG would help the consumers save around 62 percent and 35 per cent respectively in comparison with&nbsp; petrol and diesel,&nbsp; while the PNG users were able to save 27 percent compared with the prices of domestic LPG that is now over&nbsp;₹1000/cylinder.

gas price hike

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