Russia stops Finland gas flows over payments dispute

OSLO, May 21 — Russia’s Gazprom today halted gas exports to neighbouring Finland, the Finnish gas system operator said, the latest escalation of an energy payments dispute with Western nations.

Finnish state-owned gas wholesaler Gasum yesterday said Gazprom had warned that flows would be halted from 0400 GMT on Saturday morning.“Natural gas supplies to Finland under Gasum’s supply contract have been cut off,” it said in a statement. Gazprom Export yesterday said flows would be cut because Gasum had not complied with the new Russian rules requiring settlement in roubles.

Most European supply contracts are denominated in euros or dollars and Moscow already cut off gas to Bulgaria and Poland last month after they refused to comply with the new payment terms.

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