EU Commissioner for Economy: If Russia cuts gas deliveries, we are ready to deal with it

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.