Natural gas price rises as Russia cuts supply to Bulgaria, Poland

Natural gas price has surged by 20 percent on the back of Russia’s supply cut to Bulgaria and Poland.

In the early hour of today, Russia’s Gazprom PJSC announced it has halted gas supplies to Poland and Bulgaria and will continue to do so until the two countries agree to pay for the fuel in Rubles, as demanded by Moscow.

The Ruble is the basic monetary unit of Russia and some other former republics of the USSR, equal to 100 kopeks.

This development reiterates Russia’s threat to cut off gas supplies to countries that refuse Vladimir Putin’s new demand for payment in Rubles.