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Gazprom to stop supplying gas to Poland and Bulgaria

The Polish and Bulgarian governments were notified by Gazprom yesterday (26th) that they would stop supplying natural gas due to their refusal to pay for natural gas in rubles. Although both Poland and Bulgaria have indicated that they have taken action to find alternatives to gas supply, the two countries currently import 50% and 90% of Russian gas, respectively. Fears of natural gas shortages drove European gas prices to climb as much as 17%, once exceeding the 100 euro/MWh level.
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