A complete refusal of Russian gas: Austria's secretly developed document expected to hit Russia hard

Austrian Energy Minister Leonore Gewessler has presented a bill that provides for a complete rejection of Russian gas by 2028. In fact, Russia will lose the last major buyer of natural gas in Europe.

This was reported by the Kleine Zeitung newspaper, which obtained the document. It states that gas suppliers will be obliged to provide evidence that every year they increase the share of fuel purchased outside of Russia. By 2028, the share of non-Russian gas in the country should reach 100%.

In February 2024, the share of supplies from Russia in Austria's total gas imports was 87%, while two years ago this figure was 79%. In February, Gewessler announced plans to explore options for exiting the long-term contracts between OMV and Gazprom.

They are valid until 2040. Later, OMV said that in order to abandon Russian gas, lawmakers need to create a legal framework, and if necessary, the company will be able to supply 100% non-Russian gas to consumers in Austria. As noted in March, Austrian Foreign Minister Alexander Schallenberg said that Austria plans to completely abandon Russian gas by 2027.

As reported, Russian oil companies have faced many months of delays or even blocking of payments from their foreign buyers. We are talking about payments for oil and its refined products (fuel) exported from Russia to China, Turkey and the United Arab Emirates (UAE). These countries have become more cautious in their dealings with Russia, fearing secondary US sanctions.

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