REUTERS
Germany triggered an emergency plan to manage gas supplies on Wednesday under which Europe's largest economy could ration power if a standoff over a Russian demand to pay for fuel with roubles disrupts or halts supplies.
Moscow's insistence on rouble payments for the Russian gas that meets a third of Europe's annual energy needs has galvanised others in Europe: Greece called an emergency meeting of suppliers, the Dutch government said it would urge consumers to use less gas and the French energy regulator told consumers not to panic. read more
The demand for roubles, which has been rejected by Group of Seven nations, is in retaliation for crippling Western sanctions on Russia following its invasion of Ukraine. read more
Moscow, which says it is conducting a "special military operation" there, calls Western measures an "economic war."
Russia's most senior lawmaker said on Wednesday Russia could demand rouble payments also for other commodities including oil, grain, fertilisers, coal and metals, raising the risk of recession in Europe and the United States.
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