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Germany and Austria prepare for gas supply crisis amid payment standoff with Russia

Germany Energy
Posted at 12:52 PM, Mar 30, 2022
and last updated 2022-03-30 14:03:15-04

Germany and Austria are warning their countries may be headed toward a gas supply emergency, as Russia demands that they pay for their gas in rubles, the Russian currency.

But the countries, which are part of the European Union and usually pay in euros, have declined to do so.

Germany’s Federal Economy Minister, Robert Habeck, issued the “early warning” on a possible gas emergency to prepare for such an event.

The early warning level is the first of three stages in Germany’s gas emergency plan.

Habeck has said the country is closely monitoring gas supply.

Both Germany and Austria have begun to ration gas.

Germany receives about half of its gas supply and one-third of its oil from Russia, according to the BBC.

Austria relies on Russia for about 80% of its gas.

Russia has also demanded other countries pay for energy supplies in rubles.