Russian energy company Gazprom on Tuesday will begin halting gas supplies to the Netherlands' GasTerra, a press release from the Dutch partially state-owned firm revealed.
The action taken by Gazprom comes after GasTerra refused to pay the Russian company in rubles, its national currency.
"Gas trader GasTerra has decided not to comply with Gazprom's unilateral payment requirements," GasTerra wrote in a statement connected to the release.
"In response to this decision by GasTerra, Gazprom has announced that it will discontinue supply with effect from May 31, 2022," it added.
Dutch Energy Minister Rob Jetten later released a statement on Twitter acknowledging the decision by GasTerra, and assured it would have "no consequences" on the "physical delivery of gas to Dutch households."
Russian President Vladimir Putin has sought for "unfriendly" countries to start using his currency for gas since the Ukrainian invasion significantly devalued the ruble, according to The Guardian.
However, GasTerra cautioned in its statement that using the Russian currency poses "a risk of violation of the sanctions" imposed by the European Union after the Kremlin's Ukraine campaign.
GasTerra also warned that "there are too many financial and operational risks associated with the required payment route," according to the statement. "In particular, opening accounts in Moscow under Russian law and their control by the Russian regime is too great a risk for the company from Groningen."
The move by Gazprom to not deliver gas to the Netherlands means 2 billion cubic meters of gas will not be supplied to the country from now to October, according to GasTerra.
The Dutch company said it "anticipated" the decoupling "by purchasing gas elsewhere."
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