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30 Mar, 2022 16:21

UK refuses to pay for gas in rubles

Britain is less reliant on Russian energy than other European countries
UK refuses to pay for gas in rubles

The UK prime minister’s spokesman said on Wednesday the nation would not pay for Russian gas in rubles as Moscow demands. London is liaising with British companies who might be concerned about the issue or its impact on industries and manufacturers across Europe, he added.

The statement comes as the Kremlin indicated on Wednesday that all of Russia’s energy and commodity exports could soon be priced in rubles.

“[Business minister] Kwasi Kwarteng, working with his counterparts, have made clear that they won’t be paying in rubles,” Johnson’s spokesman told reporters, adding, “[The business ministry] is obviously in contact with any UK businesses that may have concerns.”

Unlike other countries in Europe, the UK is less dependent on Russian gas supply. Russia only provides around 5% of Britain’s gas imports. However, surging energy prices have been affecting the economy.

According to the Office for National Statistics, 51% of Britons currently spend less on non-essential goods due to rising energy costs, 34% are saving gas and electricity at home, while 31% spend less on food and essential goods. Overall, some 83% of those surveyed pointed to the growth of everyday expenses amid rising gas and electricity prices.

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