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Germany calls for EU energy emergency plan

The German Association of Energy and Water Industries (BDEW) has called for an agreement at the European level on an emergency protocol in response to Moscow’s announcement of a new gas payment mechanism.

“There are certain and serious signs that we are heading towards a deterioration in the gas supply situation,” the head of BDEW Kerstin Andreae said on Thursday, according to Prime news agency.

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The association “will need to develop criteria for which industries and sectors will continue to be supplied with gas even in the event of a shortage,” Andreae added.

Russian President Vladimir Putin announced on Wednesday that Moscow will now only accept payment for its natural gas exports to “unfriendly countries” in rubles. This includes countries that imposed severe economic sanctions against Russia over the conflict in Ukraine. Putin explained that illegitimate decisions by a number of Western nations to freeze Russia’s assets destroyed all confidence in their currencies.

READ MORE: Russia’s ruble payment plan leaves European gas buyers confused

The EU is heavily reliant on Russian hydrocarbons. Around 90% of the gas used in the EU is imported, according to the European Commission. Russia provided roughly 45% of these imports at various levels to EU member states in 2021.

For more stories on economy & finance visit RT’s business section

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