Russia Stops Gas Supplies to Finland

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Russia Stops Gas Supplies to Finland
22 May 2022
5 min read

News Synopsis

Russia has cut off gas supplies to Finland, the latest escalation in a dispute with the West over energy payments. On Saturday, Russia's gas giant Gazprom stated it had totally ceased deliveries to Finland. Finland stated that all deliveries had ceased, but that clients would be unaffected. Helsinki has refused to pay in roubles for its supplies. However, the deadline coincides with Finland's statement that it will apply to join NATO.

Russia continues to supply gas to numerous European countries despite its invasion of Ukraine on February 24. Following Western sanctions over the war, Russia said that "unfriendly" countries must pay for gas in Russian currency, a move the EU regards as extortion. Many consumers are experiencing a cost-of-living dilemma as a result of their reliance on Russian energy.

The majority of Finland's gas is imported from Russia, yet gas accounts for less than a tenth of the country's total energy use. Gas deliveries through the Imatra entry point were interrupted on May 21, according to a statement released by the Finnish state-owned corporation Gasgrid Finland on Saturday.

"The amount of gas needed by the Finnish gas market is imported into the Finnish gas system through Balticconnector entry point in accordance with the nominations made by the market parties. Gasgrid Finland has directed gas imports in Balticconnector and the gas system is currently in balance," it said. The Russian move was previously regarded as "very unfortunate" by the Finnish state-owned energy company Gasum.