VET:CC - Russia to halt gas if buyers don't pay rubles starting Friday - Putin

Thursday Morning it was reported that Putin will require payment for Russian gas in rubles, and that gas exports will be halted if ruble payments are not made. The Russian President has reportedly signed the order and the new gas trading rules will become effective April 1st; special ruble accounts are to be opened with Gazprombank. European natural gas prices spiked ~10% as headlines hit; however, few additional details are known. The update follows reports Wednesday that Russia and European customers were set to agree to terms for USD or Euro payments; any halt to Russian gas flows would provide a tailwind for gas exporters to Europe like Cheniere (LNG), and Shell (SHEL), as well as domestic producers like Equinor (EQNR), Vermillion (VET) and NRT (NRT).

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Russia to halt gas if buyers don't pay rubles starting Friday - Putin