OGZPY - Ruble payment deadline: Russian gas still flowing into Europe

It doesn't look like the Russian gas taps going to Europe will get turned off today, but there is always the possibility of some surprises. Germany and Austria have already begun preparations for rationing, while the bloc of EU countries warned that they were preparing for all contingencies. Russian gas sales to Europe are estimated at $350M a day, and unlike oilfields, gasfields are relatively easy to turn on and off without damaging them. Backdrop: When Vladimir Putin first announced the ruble payment demand from "unfriendly countries" last week, G7 nations rejected it, saying it would violate contract terms. Since then, the Kremlin has outlined a payment mechanism that would allow foreign buyers to convert their dollars and euros via non-sanctioned Gazprombank. The state-controlled bank would send along rubles to energy giant Gazprom (OTCPK:OGZPY), which has a monopoly on Russian gas exports by pipeline. Putin said the goal was to

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Ruble payment deadline: Russian gas still flowing into Europe