Headlines
Russian Gas Still Flowing to Europe Despite Deadline Day for Rouble Payments Arriving
By Derrick Bangura – The amount of gas flowing into Europe from Russia hit its highest level in four months on Friday, despite threats from the Kremlin to halt all supplies to “unfriendly” countries, potentially wreaking havoc.
Friday marks the deadline for countries in the European Union and elsewhere to start paying for their gas in roubles
Failing to comply, President Vladimir Putin said, would lead to Russia turning off the taps for gas supplies to Europe, triggering widespread energy shortages on the continent.
Mr Putin has demanded that importers of Russian gas in Europe stop paying in dollars and euros, and instead open rouble accounts in Russian banks in order to prop up the country’s struggling currency.
But the Kremlin appeared to leave the door open to a last-ditch compromise, saying that Russia wouldn’t halt all supplies today as payments on deliveries due after 1 April wouldn’t be taken until as late as May.
Around 60% of gas imports into Europe are currently paid in euros, and the rest in dollars.
It is likely that Russia and the European Union will reach some kind of agreement, according to energy experts, whereby clients in countries like France and Germany continue to pay for their gas in euros and Gazprom converts that to roubles in Russia.
“It was in the interest of both parties to avoid a complete halt of flows,” said Leon Izbicki, a natural gas analyst at Energy Aspects.
“Europe would need to implement rationing of gas, which would have massive ramifications and lead to industrial shutdowns, while Russia would lose yet another revenue stream.”
But Gazprom insisted on Friday it was going ahead with the move, saying it had started to send requests for rouble payment switches to its clients.
Meanwhile, a spokesperson for the Kremlin said that Mr Putin’s order to receive gas payments in roubles is irreversible.
“The overall risk of a complete shutdown is lower in our opinion,” Mr Izbicki said, pointing to the Russian announcement on Thursday that it would accept payments in dollars or euros into a special currency account at Gazprombank.
EU sanctions specifically exclude Gazprombank, leaving room to find a compromise.
Requiring payments in roubles could prop up the faltering currency and support exchange rates, experts said, while allowing Russia to more easily navigate sanctions.
It is unlikely to dramatically change the country’s dire economic situation, however.
Daily gas flows from Russia into Europe via Ukraine hit their highest level on Friday since November, according to Bloomberg data.
The Nigerian Air Force (NAF), says a comprehensive investigation is in progress to ascertain the veracity of reports of loss of civilian lives in the course of recent airstrikes in Zamfara.
The Director, Public Relations and Information of NAF, AVM Olusola Akinboyewa, made this known in a statement on Monday in Abuja.
Akinboyewa said that the NAF dealt a decisive blow to bandits terrorising villages in the area in recent airstrikes at Tungar Kara in Zurmi Local Government Area of the state.
“The operation successfully eliminated several bandits and led to the recovery of some kidnap victims, the NAF viewed with grave concern reports of the loss of civilian lives in the course of the operation.
“As a responsible and professional custodian of airpower for the security of the nation, the NAF believes in the absolute value of the life of every Nigerian.
“Accordingly, a comprehensive investigation is in progress, to ascertain the veracity of the reports, the outcome of which will be duly communicated to inform and re-assure the public.
“Please rest assured that, while our mission in the North West remains to combat banditry and restore peace, the safety and well-being of all Nigerians are of utmost importance.
“We will therefore work closely with all relevant authorities to unravel the facts and take appropriate steps, as part of our unwavering commitment to prevent, minimise and mitigate any harm to civilians and civilian infrastructure in the course of our operations,” he said.
The Federal Government has approved four airlines as official air carriers to transport intending pilgrims for the 2025 hajj pilgrimage in the Kingdom of Saudi Arabia.
The Executive Chairman, National Hajj Commission of Nigeria (NAHCON), Prof. Abdullahi Usman, made this known in a statement by the commission’s Assistant Director, Information and Publication, Mrs Fatima Usara, on Sunday in Abuja.
Usman explained that the four airlines were selected out of the 11 companies that submitted applications to transport Nigerian pilgrims to Saudi Arabia for Muslims pilgrimage.
According to Usman, the four approved airlines are Air Peace Ltd., Fly-Nas, a Saudi Arabia designated airline, Max Air, and UMZA Aviation Services Ltd.
The NAHCON boss stated that the airlines were screened and shortlisted by a team of 32 members that were inaugurated by the NAHCON on Nov. 26, 2024.
He said that the composition of the Aviation Screening Committee included representatives from State Pilgrims’ Welfare Boards, three members from Nigerian Civil Aviation Authority (NCAA) and one member each from the Federal Airports Authority of Nigeria (FAAN).
He also said that some members of the committee were drawn from the Nigerian Airspace Management Agency (NAMA), Nigerian Meteorological Agency (NIMET), and Nigerian Safety Investigation Bureau (NSIB).
Similarly, Prof. Usman said that one member each was drawn from Nigerian Customs’ Service (NCS) and Independent Corrupt Practices Commission (ICPC).
Others, he listed, were NAHCON Board members representing each geo-political zone of the country, NAHCON Heads of Aviation, Procurement, Legal, Internal Audit, and Special Duties as well as Board Member representing the Aviation industry.
The NAHCON boss also disclosed that three excess cargo carriers were selected for the hajj operations.
He named them to include; Aglow Aviation Support Services Ltd, Cargozeal Technology Ltd and Qualla Investment Ltd.,
The Chairman, who congratulated the successful companies, urged them to fulfil their responsibilities as promised during the screening.
Meanwhile, Prof. Usman signed the 2025 Hajj Memorandum of Understanding (MoU) with the Saudi Ministry of Hajj and Umrah on behalf of the Nigerian Government.
Kingdom of Saudi Arabia was represented by the Deputy Minister of Hajj and Umrah, Dr Abdulfatah Masahat, at the signing ceremony.
The event was held in Jeddah, Saudi Arabia to formalise this year’s Hajj engagements.
Some health stakeholders have said that Nigeria’s Primary Healthcare Centres (PHCs), which serve as the backbone of the country’s healthcare system, are in dire need of revitalisation.
The stakeholder said this in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja, (more…)
NAF investigates reports of vigilante losses in Zamfara airstrikes–official
FG approves 4 airlines for 2025 hajj operation – NAHCON Chair
Nigeria’s primary healthcare centres in need of urgent revitalisation – Stakeholders
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