The payment of Russian gas in rubles means a breach of existing agreements, and if Russia decides to suspend deliveries, then the European Union is ready to deal with the situation, said the European Commissioner for economy, Paolo Gentiloni, who attended a conference organized by The Economist in Bucharest on Tuesday.Asked if the EU is ready to pay for gas in rubles, as Russia demands, and if Europe is ready to deal with the situation in which Russia cuts off gas supplies to Europe, the European official said he does not know what to expect from Russia, but paying in rubles would be a breach of existing agreements.Secondly, are we ready to take a stand on dependence on Russia? Of course we're ready. We decided to do that, and the war was a wake-up call, but we can't do anything quickly without sacrifice. Are we ready to make these sacrifices? Definitely yes. We do not put energy sanctions on the table, but if there is such decision [from Russia to cut off deliveries - editor's note], we are ready to deal it them and we can do so with a strong effort, and we will continue in any way to reduce our energy dependence on Russia, the European official said.Russia has warned that it will not supply gas to European countries if they refuse to pay in rubles, as requested by Moscow, EFE and TASS report.Moscow's decision has raised concerns in the West, where several countries have said they are unwilling to buy gas and oil if payment is to be made in Russian rubles.
The foreign exchange reserves of the National Bank of Romania, or BNR, totaled EUR 58.281 billion at the end of June 2025, up by 4.71% compared to May 31, 2025. During the month of June, there were inflows of EUR 6.1 billion, representing changes in foreign currency minimum reserves established by credit institutions at the […]
Maib, the largest bank in the Republic of Moldova, has established a strategic partnership with Tuum, a next-generation core banking platform from Estonia, to obtain a fully digital presence for retail customers in Romania. Tuum’s core banking platform will serve as the foundation for Maib’s greenfield operations in Romania. “Maib’s decision to collaborate with Tuum […]
The Romanian government officially launched the 12th edition of its Official Internship Program on July 1, welcoming a new cohort of 150 young interns selected from more than 1,900 applicants. Over the next two months, the interns will be hosted by 26 government institutions, where they will gain hands-on experience in public administration. The program […]
The cogeneration plant on the Petromidia Năvodari platform, the flagship project of the Kazakh-Romanian Energy Investment Fund (KREIF), has entered its final testing phase and is expected to be fully integrated with the Petromidia refinery and Romania’s National Energy System - NES by the end of August. Developed through Rompetrol Energy, a KREIF subsidiary, the […]
More than 108,000 Romanian households changed their electricity providers in June, just before the country returned to a liberalized energy market, according to George Niculescu, president of the National Energy Regulatory Authority (ANRE). “Today, after more than three and a half years, we return to a free electricity market - a market for the consumer! […]
The Romanian Constitutional Court (CCR) has reinstated Traian Băsescu’s rights as a former president, granting him lifelong state benefits, including a monthly allowance, protocol residence, and permanent security. The court ruled unanimously that a 2001 law, which stripped former presidents of these privileges if found to have collaborated with the communist-era Securitate, is unconstitutional, Biziday.ro...
