Russia has halted gas supplies to Poland because it refused Russia’s demand to pay for gas in rubles.
Reed was accused of assaulting a Russian officer and was later sentenced to nine years in prison, though his family has maintained his innocence and the U.S. government has described him as unjustly imprisoned.
The commodity analyst also discusses the broader implications of Russia's decision for other EU members such as Germany.The euro fell below $1.06 for the first time in five years on Wednesday morning amid fears over Europe's energy security and economic growth.declined to a five-year low of $1.05860 after Russia's state-owned gas giant Gazprom said it had cut gas supplies to Poland and Bulgaria on Wednesday. By mid-morning, the single currency was trading at $1.0614.
CNBC was not able to independently confirm Russia's claim. Moscow has warned Western nations against continuing to supply Ukraine with weapons, saying such supplies are legitimate targets.Janek Skarzynski | AFP | Getty Images Early Wednesday morning, Gazprom released a statement saying it had halted supplies to both Poland and Bulgaria — both heavy consumers of Russian gas — due to payments not being made in the Russian currency. It said supplies would resume once these payments were made.The move also coincides with a sharp rise in tensions between Western allies and Russia as the war in Ukraine continues into a third month.
The halting of gas supplies to Poland, which imports around 45% of its natural gas from Russia, according to recent data from the EU, is another sign of rising tensions between Russia and the West following the invasion of Ukraine. One official in Kyiv described Russia's latest move to cut supplies as"gas blackmail.
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