Hungary and Slovakia face challenges in paying for Russian gas due to new U.S. sanctions on Gazprombank, risking supply disruptions without a legal solution.
Hungary and Slovakia are seeking ways to make payments for Russian gas that were thrown into uncertainty by new U.S. sanctions on Russia's Gazprombank, officials said on Wednesday.
Hungarian Foreign Minister Peter Szijjarto said he would hold talks with Russian Deputy Prime Minister Alexander Novak later on Wednesday to work out a legal solution regarding future payments for shipments.
The U.S. imposed new sanctions on Russia's Gazprombank on Nov. 21, creating an obstacle for European buyers of Russian gas. Buyers have been using Gazprombank to make the payments, including a scheme for currency conversion to roubles.
A source close to the Slovak state-owned gas company SPP, which has a long-term contract with the Russian supplier Gazprom and supplies most of the Slovak market, said the problem was acute as a monthly payment was coming up and there was currently no known way how to make it.
Failure to pay could prompt Gazprom to suspend shipments, the source said.
Russian President Vladimir Putin issued a decree last week cancelling the option for buyers of Russian gas to convert currency into roubles at Gazprombank.The lender said separately in a statement it remained the only bank authorised to process payments for Russian gas by foreign buyers, but it will receive payments only in roubles.
The source close to SPP said the issue affected other buyers in Europe as well, including countries in the Balkans, as banks were not willing to send payments to Gazprombank, and there was no grace period for the U.S. sanctions.
A spokesman for SPP said the company was still analysing the situation.
Slovakia and Hungary have been keen to continue buying Russian gas, though shipments to Slovakia face suspension from January as Ukraine does not plan to extend a transit agreement with Gazprom. Slovakia has been trying to find a workaround to allow the shipments to continue.
Torrential monsoon rains continue to wreak havoc across northern and eastern India, with widespread flooding reported in Uttar Pradesh and West Bengal...
Volcanoes can ground planes, bury towns, and reshape landscapes in hours. With over 850 eruptions since 2015, Earth is constantly reminding us of its...
Tesla has granted Elon Musk a $29 billion share award as part of a new compensation plan to retain him as CEO while the company shifts focus from elec...
Beijing had evacuated over 70,000 residents by Monday afternoon as authorities issued fresh warnings of intense rainfall, just a week after deadly flo...
Talks on a global treaty to reduce plastic pollution risk falling apart as countries remain divided over how to limit plastic production....
U.S. President Donald Trump has signed an executive order on Monday ending the U.S. sanctions programme on Syria, The White House confirmed.
President Donald Trump is expected to sign an executive order on Monday formally ending U.S. sanctions on Syria, in a major foreign policy reversal that follows a series of diplomatic overtures between Washington and Damascus.
The United States has sanctioned six entities and six individuals based in Iran and the People’s Republic of China (PRC) for their role in a network procuring ballistic missile propellant ingredients on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC).
The Kremlin has warned that the latest US sanctions on Russia’s energy sector could destabilize global markets, with Moscow pledging to take measures to minimize the impact. The sanctions, aimed at cutting Russia’s war funding, target major oil producers and vessels involved in shipping Russian oil.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Talks on a global treaty to reduce plastic pollution risk falling apart as countries remain divided over how to limit plastic production.
The Kremlin responded cautiously to U.S. President Donald Trump's order to reposition nuclear submarines, urging restraint in nuclear rhetoric and emphasizing the importance of diplomacy during rising tensions over Ukraine.
On Monday, the Kremlin announced that Russian President Vladimir Putin may meet U.S. envoy Steve Witkoff this week as part of ongoing efforts to mediate the Russia-Ukraine conflict. U.S. President Donald Trump also warned of possible sanctions if a ceasefire is not reached soon.
Two new videos released by Palestinian militant groups Hamas and Islamic Jihad have sparked international condemnation and renewed pressure on Israel and the global community to secure the release of hostages held in Gaza since the October 7, 2023 attacks.
Preliminary discussions between Thai and Cambodian defence officials began on Monday in Malaysia, setting the stage for a high-level ministerial meeting scheduled for Thursday, as a fragile ceasefire continues to hold following last week's border clashes.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment