Germany Triggers Gas Warning amid Russian Ruble Demand

By Staff, Agencies 

Germany's economy minister Robert Habeck said Wednesday he was triggering the early warning level for gas supplies amid Russia's continued demand to be paid in rubles.

Habeck told reporters that “This was the first of three warning levels and entails the establishment of a crisis team in his ministry that will heighten monitoring of the gas supply situation.” 

“There have been several comments from the Russian side that if this (payments in rubles) doesn’t happen, then the supplies will be stopped,” he told reporters in Berlin, adding that Moscow is expected to unveil new rules for gas payments on Thursday. “In order to be prepared for this situation I have today triggered the early warning level.”

Habeck said he took the measure after Moscow indicated it would pass a bill to require payment in rubles despite the Group of Seven countries rejecting this demand on Monday. 

In parallel, Habeck urged firms and consumers to reduce energy consumption wherever possible but said there was currently no supply shortage. However, he cautioned that Germany's gas storages are currently filled to about 25% capacity.

“The question how long the gas will last basically depends on several factors [such as] consumption and weather,” he said. “If there’s a lot of heating, then the storage facilities will be emptied.”

He stated that his country was monitoring flows with market operations.