EQNR - Russia blinks - Europe to pay for gas in Euros or Dollars under proposed deal

"Unfriendly" countries are set to continue paying for Russian natural gas in Euros or Dollars under new proposal, according to Reuters sources.   March 23rd, Putin demanded payment for Russian natural gas in rubles, a demand several European countries refused, creating concern that Russian gas supplies could be curtailed. The proposed scheme would demand payment be made at the "official" ruble / euro exchange rate, set by the Russian Central Bank; a term which could create challenges for finalizing contract amendments. Deal terms have not been finalized, though progress has been made to avoid Russian gas supply interruptions, removing a tailwind for European gas producers like Equinor (EQNR) and LNG exporters like Cheniere (LNG).

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Russia blinks - Europe to pay for gas in Euros or Dollars under proposed deal