Media Coverage
Source: Bloomberg Daybreak EU
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
04.06.22
Moscow's call for “unfriendly” European countries to pay for Russian gas in rubles raises the stakes for supply and the specter of disruption. Given that contracts are generally priced in dollars or euros, these demands would constitute a breach, potentially leading to a wave of disputes, according to Charles Golsong, a London-based International Arbitration counsel at Pillsbury. He discusses how these disputes may play out with Bloomberg Daybreak Europe's Caroline Hepker.
“The contracts will have express provisions for payment in euros or dollars, so any demands to pay in a currency other than those will constitute a breach. Indeed, as would refusal by Russia to supply their gas should their new demands not be met,” Golsong said.