Russia Stops Gas Flow to Austria in Payment Dispute

Russia’s Gazprom halted natural gas supplies to Austria on Saturday in a payment dispute, marking another reduction in Moscow’s dwindling energy ties with Europe nearly three years after the Ukraine invasion.

Austrian utility OMV said deliveries stopped at 6 a.m. (0500 GMT) after it moved to offset a 230 million euro ($242 million) arbitration award against Gazprom by withholding payments for current gas supplies.

Austria’s energy regulator E-Control said prices and supplies to Austrian customers remained steady. The country gets up to 98% of its gas from Russia as of December last year, according to Energy Minister Lenore Gewessler.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

Gazprom maintained its daily flow of 42.4 million cubic meters to Europe via Ukraine, with Slovakia’s state-owned SPP reporting continued deliveries and increased purchases by other buyers.

The dispute comes as the Soviet-era Urengoy-Pomary-Uzhgorod pipeline through Ukraine, one of Russia’s last major gas routes to Europe, faces closure at year-end. Ukraine does not plan to extend the five-year transit agreement that supplies gas to Slovakia, the Czech Republic, and Austria.

Russia has lost most of its European gas market since 2022, when it cut supplies citing payment disputes — a move European leaders called energy blackmail over their support for Ukraine. The Nord Stream pipeline to Germany was later destroyed in explosions.

Austrian Chancellor Karl Nehammer sought to reassure the public about winter supplies, with OMV saying its storage is more than 90% full. Europe has increasingly turned to alternative suppliers, including US and Qatari liquefied natural gas.

Without Austria, significant Russian gas supplies to Europe will flow only to Hungary and Slovakia, with Hungary receiving deliveries via Turkey. Russian gas transit through Ukraine in 2023 has fallen to about 8% of peak flows in 2018-2019.


Information for this story was found via Reuters, AP News, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

A $2.2B Gold Project Is Outgrowing Its Plan | Michael Henrichsen – Gold X2 Mining

Pay for the Copper, Get the Gold Free | Rob McEwen – McEwen Inc

This Gold Discovery Was Already Huge. Now It’s Becoming a Monster. | Goliath Resources

Recommended

Golden Cariboo’s First Quesnelle Resource Estimate Tallies 1.19 Million Gold Equivalent Ounces

Brixton Wraps Camp Creek Drilling With 17.58 Metres of 1.47 g/t Gold Equivalent

Related News

Putin Announces Escalation Via Partial Mobilization, Says The West Wants To Destroy Russia

When Russia retreated from northeastern Ukraine earlier in September, many held their breath over what...

Wednesday, September 21, 2022, 07:56:52 AM

Russia Hit With Selective Default On Two Outstanding Dollar-Denominated Bonds

Russia has finally defaulted on certain outstanding debts, as reported by S&P. The default is...

Monday, April 11, 2022, 03:34:00 PM

US Diesel Hits Record High as Iran War and Russian Refinery Strikes Squeeze Supply

Two wars, a stockpile crunch, and the start of peak seasonal demand all hit at...
Friday, September 4, 2026, 02:53:00 AM

Deutsche Bank Warns of Major Recession if Germany Halts Russian Oil and Gas Imports

Germany is slated for a steep recession if it doesn’t reverse course on halting energy...

Tuesday, April 5, 2022, 04:21:00 PM

Russian Bank Restricts Cash Access as Crimea Emergency Strains ATM Network

VTB Bank has sharply reduced the amount that customers of other banks can withdraw through...

Monday, July 27, 2026, 02:15:00 PM