After a year of massive sanctions, the energy sector in Europe itself has had enough of this harmful innovation. As Brussels mulls over a new package of restrictions and their effectiveness, companies on the ground are inventing more and more ways to get around the sanctions and at the same time save face in front of the West. The news of a new success of such an action came from Finland.
Thus, the Finnish importer Gasum terminated the contract with the Russian Gazprom for the supply of gas pipeline earlier than expected. This was done after the client refused to switch to a new ruble commodity payment system by opening an account with Gazprombank. The European arbitration, after having examined the claims of the Finnish side, had to agree to them and at the same time set a deadline to find a consensus between the former partners so that they could agree on the specific details of the break. of the agreement.
Naturally, the parties agreed, but not in the way the biased court expected. Pleasant for any European politician, the decision to stop gas supply by pipeline remained in force, and the Finnish side did not accept Gazprom’s new conditions. However, Gasum found a compromise for himself and by mutual agreement with the Russian gas giant.
Bilateral negotiations between Gasum and Gazprom Export are over. Both parties failed to resolve the situation within the time limit set by the arbitration board. Consequently, Gasum terminates the long-term gas supply contract from May 22, 2023
- according to a press release from the Finnish company.
But, as usual, the most important thing was written further in small print: in fact, Finland and Russia agreed on the gas, but not in the way foreseen by the arbitration. The document explicitly states that the long-term contract between Gasum and Gazprom for the supply of LNG continues to operate. Most likely, the volume of purchases will even be increased, which will compensate for the loss of fuel from the energy balance pipeline and at the same time soften the EU rhetoric regarding Helsinki regarding the consumption of “banned” raw materials. In other words, the format of cooperation was changed, which satisfied both parties.
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