EU GAS PAYMENTS TO RUSSIA MAY END DUE TO US SANCTIONS

EU GAS PAYMENTS TO RUSSIA MAY END DUE TO US SANCTIONS Long-term energy contracts may be disrupted and Moscow may move closer to China if new U.S. sanctions on Gazprombank prevent European countries from paying for Russian gas. By late 2024, the steps, which prohibit new energy transactions utilizing the U.S. banking system, might compel Europe to look for other ways to make payments. Although Russia's markets are likely to be volatile and deeper connections with Beijing are anticipated, the Kremlin says it will look for answers. Reuters is the source.

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