Natural gas supplies from Russia to Western Europe could be cut off unless a deal is reached following Russian demands that payments for its exports be made in roubles rather than euros or dollars. This demand was flatly turned down by a meeting of G7 energy ministers earlier this week.
A woman walks at an exchange office sign showing the currency exchange rates of the Russian ruble, U.S. dollar, and euro in Moscow, Russia, Tuesday, Dec. 29, 2015. The Russian ruble continued its decline on Tuesday, dropping by 0.6 percent to 72.6 rubles to the dollar. (AP Photo/Alexander Zemlianichenko)
Germany and Austria have both taken the first steps towards instituting gas rationing because of the potential halt in supplies. However, in a call late on Wednesday between German Chancellor Olaf Scholz and Russian President Vladimir Putin, there was an indication of a possible pullback.
According to German sources, Putin said payments could still be…
