G7 rejects Russian demand to pay for gas in rubles

The Group of Seven major economies have collectively agreed to reject Moscow’s demand to pay for gas imports from Russia in rubles, according to German Energy Minister Robert Habeck.

On Monday, Putin ordered the government, the central bank, and Gazprombank to develop the necessary tools to switch all payments for Russian natural gas from “unfriendly states” to rubles from March 31.

Kremlin spokesperson Dmitry Peskov said Russia will stop shipping natural gas to countries that reject the demand.

Massive infrastructure changes to save the Earth from climate apocalypse: sorry, can't do it, too expensive, howyougunnapayforit, would be too much change too fast

Cutting off nearly half your country's power generation source in a single day to allow neo-Nazis to survive a couple weeks longer in a hopeless conflict: We must do it, for the good of all mankind

To be more precise, Russian gas accounts for 40% of the EU's natural gas imports, though Russian oil, which I don't think is being affected(?) is 25% of EU imports, and Russian coal is about 50% of EU's imports (as far as I can tell - figures for this are scarce) which I also don't think is being affected(?). But the former is more difficult to procure than the latter two because liquefied natural gas requires a lot of infrastructure that Europe doesn't have other than the infrastructure connected to Russia. And also reverting to coal would be a disaster for the environment as it's the dirtiest fossil fuel, and oil prices are going up, and diesel (for much of Europe's car fleet) is also facing major shortages. So this is still utterly disastrous and will lead to a recession but it's not as if half of Germany's houses are just gonna blink off. So yeah, going into a recession and agricultural crisis to allow neo-Nazis to survive a couple weeks longer in a hopeless conflict: We must do it, for the good of all mankind!

Germans, however, are told to fear not! Simply wear a sweater!

Baden-Württemberg Minister of Agriculture and Consumer Protection Peter Hauk has backed a complete German ban on importing gas and oil from Russia in response to Moscow’s military assault on Ukraine.

Hauk supported the response to Russia’s actions despite the impact it could have on his country’s own citizens, who are already struggling with soaring energy prices that make it challenging for them to heat their homes.

“You can withstand 15 degrees [Celsius] in winter in a sweater. No one dies of it. But people are dying elsewhere,” Hauk said, referencing the toll Russia has inflicted on Ukraine.

Surely, however, Europe can get their supplies from somewhere else? Unfortunately not, says the UAE:

The world’s energy markets need Russian oil and no producer can replace it, United Arab Emirates (UAE) Minister of Energy Suhail al-Mazrouei said on Monday.

Russia produces some 10 million barrels of oil a day, which makes it a critical member of the OPEC+ energy alliance, al-Mazrouei explained during an energy forum in Dubai.

Russia is the world’s second biggest crude exporter after Saudi Arabia. Following Russia’s military operation in Ukraine, some nations, led by the US, have pledged to stop buying Russian oil and gas. The United States, Europe, and others have been calling on Gulf Arab oil producers to ramp up production and help bring down crude prices, which at one point shot above $120 a barrel.

Last week, the EU stepped back from imposing an embargo on Russian crude and petroleum products, despite pressure from the US. An immediate embargo on Russia’s fossil fuels “from one day to the next would mean plunging our country and the whole of Europe into a recession,” German Chancellor Olaf Scholz said last week. Europe gets nearly 30% of its crude and roughly 50% of its petroleum products from Russia.

Reducing dependence on natural gas – something that the EU hopes to achieve over the next few years – may prove difficult as well. Qatar – which holds the third-largest natural gas reserves in the world – said last week that it was practically impossible to replace Russian gas on the European market, as between 30 and 40% of the total volume of gas supplied to the world market comes from Russia.

And finally, Germany continues to have a normal one:

Russian speakers in Germany are assaulted on a daily basis as hate crimes against people of Russian and Ukrainian origin have spiked in the country, reaching a staggering 200 cases every week, according to Germany’s police chief.