When Russia threatened to turn off the gas taps if Europe didn’t start paying for its energy in rubles, the continent held its breath. What would a stop to Russian gas mean for the chemicals industry – and all the other industries that depend on it? A handful of European companies are gearing up to comply with Moscow’s demands that they pay for Russian gas in rubles. Guntram Wolff, president of Bruegel Institute think tank says EU leaders must ensure that companies adhere to the bloc’s stance and reject the mechanism for ruble payments.
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