May 16, 2022

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The war in Ukraine: Russia’s giant Cosprom’s response to Western sanctions

Russia’s giant Gazprom announced on Thursday that it was suspending the use of its main gas pipeline to transport gas to Europe.

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LThe Russian gas company Gazprom on Thursday announced that it would suspend the use of a major gas pipeline to Europe via Poland in response to Western sanctions imposed on Russia over its attack on Ukraine.

Russia strikes back

Accepting Russian counter-sanctions means banning the use of gas pipelines owned by EuRoPol GAZ (Yamal-Europe operates the Polish section of the gas pipeline, author’s note) to carry Russian gas through Poland. “

On Wednesday, the European Union (EU) announced sanctions against more than 30 companies in the United States and Singapore in response to sanctions imposed on Russia for its military offensive against Ukraine.

Many companies are involved

The list of licensed companies includes 31 companies, including EuRoPol GAZ SA, the owner of the Polish region of the Yamal-Europe gas pipeline, a major gas press that carries Russian gas through Belarus and Poland.

Gazprom added, “The Polish side repeatedly violated Gazprom’s rights as a shareholder of EuRoPol GAZ and added Gazprom to the sanctions list on April 26, 2022, preventing the company from exercising its rights to shares in EuroPol GAZ and other securities.”

Many of the licensed companies are owned by Gasprom Germany, a German subsidiary of the Russian gas company, which is controlled by the German government due to its strategic importance. Gasprom announced its “withdrawal” from the subsidiary in early April for its part, without saying anything further.

These restrictions include a ban on transactions and entry into Russian ports of ships connected with the companies involved.

Unprecedented level

Western sanctions against Russia range from unprecedented freezing of Russian reserves to sanctions on sanctions and sanctions.

Gazprom had already announced at the end of April that it would suspend all its gas supplies to Bulgaria and Poland, as the two EU member states refused to pay their bills in rubles, which Vladimir Putin decided in response to European sanctions.

In response, the EU pointed out that these two countries are now being provided by neighboring countries within the EU.

Finally, for the past two days, gas transport to Europe via Ukraine has also been affected by the conflict.

The Nord Stream 1 gas pipeline that connects Russia directly with Germany was not affected.



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