By Daniel Thomas – Business reporter, BBC News
Russia imports nearly half of its gas from Russia
One of Germany’s biggest energy firms has said it is preparing to buy Russian gas using a payment system that critics say will undermine EU sanctions.
Uniper says it will pay in euros which will be converted into roubles, meeting a Kremlin demand for all transactions to be made in the Russian currency.
Other European energy firms are reportedly preparing to do the same amid concerns about supply cuts.
Uniper said it had no choice but said it was still abiding by EU sanctions.
“We consider a payment conversion compliant with sanctions law and the Russian decree to be possible,” a spokesman told the BBC.
“For our company and for Germany as a whole, it is not possible to do without Russian gas in the short term; this would have dramatic consequences for our economy.”
GUYANA: Govt. puts hold on US$20M World Bank loan to strengthen scrutiny of oil sector
Since the PPP/C Government has not requested any disbursements from a US$20M loan Guyana took three years ago to help strengthen the nation’s capacity to manage the oil sector effectively, the World Bank said it has been forced to downgrade the country’s performance score on the loan.
The latest implementation status and results (ISR) report recalls that the money was approved on March 29, 2019 for the Guyana Petroleum Resources Governance and Management Project (GPRGMP). The programme’s objective is to ensure the enhancement of legal and institutional frameworks and the strengthening of the capacity of key institutions to manage the oil and gas sector.
A Financing Agreement in the amount of US$20 million was signed and declared effective on April 11, 2019 under the David Granger administration. The ISR, which was reviewed by Kaieteur News presents the implementation status of GPRGMP as of March 2022. Continue reading →
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