London Daily

Focus on the big picture.
Friday, Mar 06, 2026

EU energy ministers hold crisis talks after Russian gas cuts

EU energy ministers hold crisis talks after Russian gas cuts

Energy ministers from European Union countries hold emergency talks on Monday, as the bloc strives for a united response to Moscow's demand that European buyers pay for Russian gas in roubles or face their supply being cut off.
Russia halted gas supplies to Bulgaria and Poland last week after they refused to meet its demand to effectively pay in roubles.

Those countries already planned to stop using Russian gas this year and say they can cope with the stoppage, but it has raised fears that other EU countries, including Europe's gas-reliant economic powerhouse Germany, could be next.

It has also threatened to crack the EU's united front against Russia amid disagreement on the right course of action.

With many European companies facing gas payment deadlines later this month, EU states have a pressing need to clarify whether companies can keep buying the fuel without breaching the EU's sanctions against Russia over its invasion of Ukraine.

Moscow has said foreign gas buyers must deposit euros or dollars into an account at the privately owned Russian bank Gazprombank, which would convert them into roubles.

The European Commission has told countries that complying with Russia's scheme could breach EU sanctions, while also suggesting countries could make sanctions-compliant payments if they declare the payment complete once it has been made in euros and before its conversion into roubles.

After Bulgaria, Denmark, Greece, Poland, Slovakia and others last week urged clearer advice, Brussels is drafting extra guidance.

Russia on Friday said it saw no problem with its decree, which considers the buyer's obligation fulfilled only after the hard currency has been converted to roubles.

While Bulgaria and Poland refused to engage with Moscow's scheme, Germany has echoed the Commission's workaround to allow companies to pay, and Hungary has said buyers can engage with Russia's mechanism.

Payments in roubles can help to shelter Russia's economy from the impact of sanctions, while the fuel revenues can help to finance what it calls a special military operation.

EU countries have paid more than 45 billion euros ($47.43 billion) to Russia for gas and oil since it invaded Ukraine on Feb. 24, research organisation the Centre for Research on Energy and Clean Air found.

Russia supplies 40% of EU gas and 26% of its oil imports, a dependency that means Germany and others have so far resisted calls for an abrupt halt to Russian fuel imports for fear of economic damage.

The EU is edging towards a ban on imports of Russian oil by the end of the year, diplomats said, after talks between the Commission and EU countries at the weekend ahead of meetings this week.

Ambassadors will discuss at a meeting on Wednesday a sixth package of EU sanctions against Moscow being drafted by the Commission.

Ministers on Monday will also discuss the need to urgently secure non-Russian gas supplies and fill storage, as countries brace for supply shocks.

Dependency on Russian gas varies between countries, but analysts have said an immediate total cut-off of Russian gas would plunge countries, including Germany, into recession and require emergency measures such as factory closures to cope.

Austria, Hungary, Italy and Slovakia also had reservations over the weekend about the idea of an oil embargo, diplomats said.

The Commission will later this month unveil plans to end Europe's dependency on Russian fossil fuels by 2027, including by expanding renewable energy and renovating buildings to consume less.

($1 = 0.9488 euros)
Newsletter

Related Articles

0:00
0:00
Close
Iceland Supermarket Drops Trademark Challenge Against Icelandic Government in Long-Running Naming Dispute
UK Defence Secretary Visits Cyprus Following Scrutiny of Britain’s Response to Drone Attacks
Questions Grow Over Britain’s Military Readiness as Response to Iran Conflict Draws Scrutiny
UK Offers Failed Asylum Seeker Families Up to Forty Thousand Pounds to Leave Voluntarily
Saharan Dust Could Bring ‘Blood Rain’ to Parts of the UK as Weather Systems Shift
UK Deploys Additional Typhoon Fighter Jets to Qatar and Helicopters to Cyprus Amid Rising Middle East Tensions
Experts Urge Britain to Accelerate Renewable Energy Push as Global Conflicts Drive Up Costs
British Public Shows Strong Reluctance to Join Wider War in Iran
First UK Evacuation Flight Departs Middle East After Lengthy Delay
United Kingdom Imposes New Visa Requirements on Travelers from St. Lucia and Nicaragua
Iran Conflict Strains U.S.–U.K. Alliance as Trump and Starmer Clash Over Military Strategy
UK Interest Rates Could Rise Above Four Percent Again if Energy Shock Continues, Think Tank Warns
Starmer Defends Britain’s Iran Strategy as Badenoch Urges Stronger Military Support
Labour MP Says She Saw No Sign Husband Broke Law After Arrest in China Espionage Investigation
UK Jobless Rate Overtakes Italy’s for First Time in Years as Labour Market Weakens
United Kingdom Suspends Student Visas for Four Countries in Unprecedented Immigration Move
Campaigners Warn UK Student Visa Ban Could Push Migrants Toward Dangerous Channel Crossings
First U.K. Charter Flight for Stranded Nationals Set to Depart Oman Amid Middle East Crisis
France and United Kingdom Deploy Warships to Eastern Mediterranean as Middle East Conflict Escalates
U.K. Arrests Three Men Including Lawmaker’s Partner in Suspected China Espionage Investigation
Trump Says UK–US ‘Special Relationship’ Is Diminished Amid Middle East Dispute
UK Economic Forecasts Face Fresh Strain from Middle East Conflict and Rising Energy Costs
UK Reaffirms Close US Ties After Trump’s Public Criticism
Reeves Stresses Stability and Fiscal Discipline in UK Budget Update as Growth Outlook Shifts
UK Deploys Royal Navy Destroyer HMS Dragon to Cyprus After Drone Strike on RAF Base
Green Party Surges Past Labour in New UK Poll as Traditional Party Support Crumbles
Majority of Britons Oppose U.S. Use of UK Military Bases in Iran Conflict
UK Intensifies Evacuation Efforts from Oman, Working with Airlines to Boost Flight Capacity
Trump Condemns UK and Spain in Unusually Sharp Rift Over Iran Military Action
Trump Repeats UK Claims That Diverge from Verified Facts Amid Diplomatic Strain
UK Arrests Prominent Figures Linked to Epstein Network as Questions Mount Over US Action
Trump Says UK ‘Took Far Too Long’ to Approve Use of Airbases for Iran Strikes
Scope of Britain’s Role in the Expanding Middle East Conflict Comes Under Scrutiny
Trump Says He Is ‘Very Disappointed’ in Starmer Over Iran Comments
U.S. Embassy in Riyadh Struck by Drones Amid Escalating Iran Conflict
Starmer Confronts Strategic Test After Drone Strike Near British Base in Cyprus
Rolls-Royce Chief Signals Openness to Germany Joining UK-Led Fighter Jet Programme
UK Stocks Slip as Escalating Iran Conflict Triggers Global Market Selloff
UK Overhauls Asylum System to Make Refugee Status Temporary
Starmer Warns of ‘Reckless’ Iranian Strikes Amid Escalating Regional Tensions
British Base in Cyprus Targeted as Drones Intercepted Amid Expanding Iran Conflict
Starmer Diverges from Trump on Iran Strategy, Rejects ‘Regime Change from the Skies’
U.S. and Israel Intensify Strikes on Iran as Conflict Expands to Lebanon and Gulf States
Violent Pro-Iranian Protesters Storm U.S. Consulate in Karachi
Missile Debris Sparks Fires at Dubai’s Jebel Ali Port Near Palm Jumeirah
Iran Strikes U.S. Fifth Fleet Headquarters in Bahrain Amid Wider Gulf Retaliation
When the State Replaces the Parent: How Gender Policy Is Redefining Custody and Coercion
Bill Clinton Denies Knowing Woman in Hot Tub Photo During Closed-Door Epstein Deposition
Former U.S. President Bill Clinton Testifies on Ties to Jeffrey Epstein Before Congressional Oversight Committee
Dyson Reaches Settlement in Landmark UK Forced Labour Case
×