Gas up 4.4% after Brussels denies veto against Russia

The price of TTF natural gas for delivery in June in the Dutch market rose 4.43% this afternoon after the Austrian chancellor assured that sanctions on Russian gas would not be included in the next package of European sanctions against Moscow.

in the noon TTF natural gas price 90.75 euro per megawatt hour (MWh), although throughout the morning it has exceeded 91 euros.

Raw material has remained below 90 euros since last 18 May.

The increase comes after Austrian Chancellor Karl Nehmer confirmed today on his arrival on the second day of the extraordinary summit in Brussels. Russian gas ban will not be part of the next sanctions package of the European Union (EU) against Moscow.

Partial veto on Russian crude

Last night European leaders agreed to veto Russian oil Temporary exception for high dependency countries such as Hungary, Slovakia and the Czech Republic, as requested by Hungarian President Viktor Orbán.

However, Nehamer maintained that “gas behaves very differently in terms of security of supply”, so agreeing on restrictions on this raw material would be more complicated.

In addition, the Russian gas giant gazprom Gastera confirmed on Tuesday the total cutoff of gas supply to the Netherlands for non-payment of April bills in rubles through the company, as it did with Poland, Bulgaria and Finland for the same reason.

russian president, Vladimir PutinOn 31 March approved a decree in which it compels gas companies of “uncivilized” countries – of which the European Union is a member – to pay in rubles to avoid Western sanctions imposed as a result of the Russian invasion of Ukraine. .