Putin's ruble standoff with Europe risks triggering de facto gas embargo

If Russia follows through on its threat to cut off gas supplies to buyers that don't comply, it poses a serious threat for the EU, which gets 40% of its gas from Russia.

The European Union and Russia are at risk of triggering a de facto embargo on Russian gas after the bloc’s lawyers drafted a preliminary finding that the mechanism President Vladimir Putin is demanding for payment in rubles would violate the bloc’s sanctions.

Countries including Germany are still scrutinizing an initial EU assessment that Putin’s ruble demand would breach the bloc’s sanctions imposed over Russia’s invasion of Ukraine. The Netherlands has told its energy firms to refuse the new payment system in light of the EU legal analysis.

Russia could still provide clarifications or adjustments to its decree that could affect how the