• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 12 days Does Toyota Know Something That We Don’t?
  • 1 day World could get rid of Putin and Russia but nobody is bold enough
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 2 hours Even Shell Agrees with Climate Change!
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

ExxonMobil's Record Profits Defy Political Expectations

ExxonMobil's Record Profits Defy Political Expectations

ExxonMobil has achieved its highest…

Russia Could Cut Gas Supplies To Finland Tomorrow

Hours after Moscow warned there would be retaliation for Helsinki’s announcement that it is applying for NATO membership, Finnish media reports that the Kremlin threatened to cut the country off from Russian gas by Friday. 

Citing unnamed sources, Finland’s Iltalehti reported the Russian warning to politicians, who refrained from specific comment. 

Prior to this warning, the local media outlet noted expectations that Finland would be cut off from Russian gas after May 23rd, when its next contract payment with Gazprom comes due and the country refuses to pay in rubles. In late April, Russia cut off gas supplies to Poland and Bulgaria for refusing to pay in accordance with the Kremlin’s ruble scheme.

Speaking to Iltalehti on Thursday, Finnish Defense Minister Antti Kaikkonen said he could not confirm the warning.

Parliamentary group chairman Ville Tavio told Iltalehti that working groups had been informed of “various scenarios of Russia’s retaliation”, noting that preparations have already been made.  

Between 60% and 70% of Finland’s natural gas comes from Russia, though the country’s main sources of energy are oil, biomass and nuclear power, with natural gas representing only 5% of the total consumption. According to the Finnish government, renewable energy surpassed fossil fuels and peat in total energy consumption in 2020, leaving the country less dependent on Russian energy sources.

On Thursday, Finland announced their intention to apply for fast-tracked NATO membership due to Russian aggression in Ukraine. Sweden is expected to make its announcement in the coming days, according to the Associated Press

“Finland must apply for NATO membership without delay,” President Sauli Niinisto and Prime Minister Sanna Marin said. “We hope that the national steps still needed to make this decision will be taken rapidly within the next few days.”

Russia has also threatened “military-technical” retaliation against Finland if it joins NATO. 

“Russia will be forced to take retaliatory steps, both of a military-technical and other nature, in order to stop the threats to its national security that arise in this regard,” the Russian foreign ministry said.

By Charles Kennedy for Oilprice.com

ADVERTISEMENT

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News