Russia's "Ruble Settlement Order" Takes Effect, What About in Solar Energy?

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Russia's "Ruble Settlement Order" Takes Effect, What About in Solar Energy?

Russian President Vladimir Putin signed a presidential decree on March 31 on the settlement of natural gas trade in rubles with "unfriendly" countries and regions. The new regulations came into effect on April 1. European leaders still said they would not abide by the above rules, insisting that Russia's move violated relevant contract terms and sanctions.

Putin issued a "cut off" ultimatum

Putin announced on March 31 that Russia will start implementing the "Ruble Settlement Order" for natural gas on April 1. To buy Russian gas, "unfriendly" countries and regions must open ruble accounts in Russian banks. If the buyer refuses to pay in this way, the Russian side will consider that the buyer is in breach of contract, and all consequences shall be borne by the buyer, and the Russian side will interrupt the supply of natural gas.

"If the payment is not made (in rubles), we will consider it a breach of contract by the buyer and be liable for all the consequences that follow... The existing contract will be terminated," he said.

Russian energy occupies an important position in the energy needs of European countries. About 40% of the natural gas required by the European Union is imported from Russia, which is settled in euros and dollars.

Europe and the United States in an energy crisis?

According to the Associated Press, European governments have rejected Putin's "ultimatum", saying that they will continue to pay for natural gas imported from Russia in euros and dollars, and want to see the details of how Russia will implement its decree.

Italy and Germany are big importers of Russian gas, and their leaders said on March 30 that they had assurances from Putin about gas supplies. German Deputy Chancellor and Minister of Economics and Climate Protection Robert Habeck announced on the same day that the first "early warning" of the three-level emergency plan for natural gas shortages in Germany was activated to deal with possible natural gas shortages.

What about new energy industry in Europe ?

Will the continuous increase in energy costs increase the public's demand for solar power generation? The answer is yes. This will bring new demands on the connection, control and protection of solar power circuits.


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