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joi, 11 august 2022

Romania Offers Moldova Financial Aid to Ease Gas Crisis

With Russia's Gazprom threatening to cut off the supply of gas to Moldova unless it repays its debts immediately, Romania has decided to step in and help its neighbour.

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Romania’s government on Wednesday approved a 100-million-euros financial support package for Moldova to help it deal with a looming energy crisis.

Romania’s financial assistance comes at a difficult time for its neighbour, after Russian energy giant Gazprom warned it would stop supplying gas to Moldova if its Moldovagaz subsidiary does not pay outstanding debts within two days.

As Moldovagaz does not have the cash flow to cover this, Moldova’s government will stage a financial intervention again to prevent a stop in gas deliveries.

Moldova’s Prime Minister, Natalia Gavrilita, said she would ask parliament to introduce a state of emergency in the energy sector in order to unlock money fast from the state budget to cover Moldovagaz’s debts to Gazprom.

Gazprom owns 64 per cent of Moldovagaz, making it a subsidiary of the Russian giant. Gavrilita on Wednesday said Gazprom had sent a letter to Moldovagaz, warning it will stop the supply of gas if it does not pay for the gas consumption for the first half of this month in full by January 20.

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