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“Payment in rubles” threatens to stop Russian gas exports to Europe

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"Payment in rubles" threatens to stop Russian gas exports to Europe

“Payment in rubles” threatens to stop Russian gas exports to Europe

Group of seven refuses, Moscow seeks Asia

Tuesday – 26 Shaban 1443 Hijri – 29 March 2022 AD Release number. [
15827]

EU countries depend on 40% of gas imports from Russia through Gosprom (Reuters).

London: “Middle East”

The confusion over “payment in rubles” between Russia and the European Union is causing a crisis between the two sides, which has escalated over time, especially after the deadline for Russian President Vladimir Putin to find a way to change gas payments by next Thursday.
Although the deadline was extended from Tuesday to Thursday, it was rejected by the Seven Group, and German Economy Minister Robert Hebeck said after an online meeting with the Seven Group’s Energy Ministers that the world’s leading economies would reject Russia’s demands. Pay in rubles for the gas imported from it.
Habek, who chaired the meeting yesterday, said the ministers had agreed that the demands for payment in rubles were a “unilateral and clear violation of existing agreements.” He added that the completed contracts were still valid, adding that “this means that payment in rubles is unacceptable.”
Putin called for “friendly nations” to pay for gas in Russian rubles, which aimed to boost stagnant local currency and respond to Western sanctions. Following the decision of the ruble to compensate 20 percent of its losses against the dollar.
In response to G7’s refusal, Russian legislator Ivan Abramov said G7’s refusal to pay for Russian gas in rubles would undoubtedly cut off supplies. Abramov is a member of the Economic Policy Committee of the Federal Council of the Upper House of the Russian Parliament.
The Kremlin made it clear yesterday that Russia is on track to find ways and means of accepting the value of its gas exports, amid growing concerns about the security of energy supplies in Europe after Russia’s demand. It will make its decisions in a timely manner if the local currency, and European countries avoid paying in rubles.
Russia’s central bank, the government and Gosprom account for 40 percent of European gas imports, and proposals to pay gas to President Vladimir Putin must be submitted in rubles by Thursday. Russia’s gas exports to the EU were estimated at 155 billion cubic meters last year.
The Kremlin spokesman Dmitry Peskov said in a conference call yesterday: “We will not give gas for free … it is clear … in our current situation, doing charity work (with European customers) is neither possible nor appropriate.”
However, Italy’s chief economic adviser to the Italian government said that Russia would pay more in euros. Claudio Descalci, chief executive of the Italian energy group Eni, said: “Gas is the only big issue in Europe, and Russia is asking us to pay in rubles, which we do not have and do not have a contract with.”
BG NIJ, a Polish company that has a contract with Gosbrom until the end of this year, has said it will not switch to the ruble payment system.
The European Union (EU) has reduced its dependence on Russian gas by two-thirds this year, and Russia has set a goal of halting imports of fossil fuels by 2027, and said on Friday that it would supply 15 billion cubic meters of liquefied natural gas to European countries. Union this year.
In light of European reluctance to supply Russia with energy, Moscow is seeking to increase oil exports to Asia to offset at least part of its exports. The Kremlin spokesman Dmitry Peskov was quoted yesterday by the Russian Interfax news agency as saying that there was a market “in Southeast Asia and the East”, but that “the European market is, of course, unique.”
Russia continues to supply its gas to Europe as usual, despite the war on Ukraine and sanctions imposed by the West.
Economic data showed the stability of Russia’s natural gas supply to Europe through large pipelines at a high level. And the Bloomberg Agency yesterday quoted a gas pipeline operating company in Ukraine as saying that Russian gas is expected to flow to Europe through pipelines passing through Ukraine, which is in line with the transport agreements signed between Russia’s Gosprom. For natural gas exports, the Ukrainian authorities.

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Mohammed bin Rashid: UAE’s sustainability and climate change efforts are constant in our comprehensive development journey

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Mohammed bin Rashid: UAE’s sustainability and climate change efforts are constant in our comprehensive development journey

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired the Cabinet meeting held in conjunction with the COP28 conference at Dubai’s Expo City.
In a blog post on the “X” site, His Highness said: At the beginning of the “Cabinet Meeting”, we reviewed the results of the state’s national efforts in the field of environment, including more than 120 decisions on sustainability, climate change, The development of our natural resources published by the Council over the last five years… and we launched more than 60 new decisions in 2023 alone, creating a coherent set of policies, legislation, strategies and initiatives. Efforts to participate with the world in addressing the effects of climate change and its file.
His Highness added: National strategies and policies in the field of environment and climate change have yielded results, as the country ranks second in the world in energy transition, in the Global Green Future Index 2023 “GFI”, and the sixth in the world per capita solar energy consumption rate, and it is worth 50 billion dollars. It has invested over .70 billion in clean energy projects in countries, pledging to invest an additional $50 billion in the sector over the next decade.
His Highness continued: The UAE continues to be active and proactive in the field of sustainability and climate change, and our efforts in this field are parallel to those of economic development, and are an essential and sustainable component of our comprehensive and continuous development. Process, God willing.

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5 Top Priorities to Combat Climate Change in Africa

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5 Top Priorities to Combat Climate Change in Africa

African civil society has identified five key priorities for combating climate change: adaptation, losses and damages, food and land use systems, and forest conservation and restoration.

This was announced by UNANDA Third World Executive Secretary Chekov Sir during an event held on the sidelines of the United Nations Climate Conference “COP28” in Dubai.

The “Anda Third World” organization represents a group of African non-governmental organizations, and these organizations met within the framework of a common platform, which was launched during the “COP”, an alliance of the African Development Bank Group and civil society. Climate and Energy.

African Development Bank president Akinwumi Adesina said: “The continent must benefit from its natural wealth. African economies should not be measured by their GDP, while Africa’s wealth should be assessed by its natural capital.”

“The continent’s vast mineral resources, forests and renewable energy must play a part in the balance,” he added, pointing out that the Congo Basin is the world’s largest carbon reserve, but is not taken into account in the overall assessment. Domestic production of countries in the region.

The coalition supports calls by African leaders to transfer special drawing rights on climate finance to Africa, including the African Development Bank.

The coalition calls on the international community, governments and development partners to comprehensively implement best practices, innovations and technologies and engage farmers and local communities, especially women and youth, in an approach that integrates science and traditional knowledge without harming biodiversity. or compromising community resilience.

He called on parties to ensure that adaptation and resilience are at the heart of African economies vulnerable to climate change.

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The Bank’s Vice President, Agriculture, Human and Social Development, Beth Dunford, confirmed during a discussion with civil society that the alliance is “very important” for Africa, noting that the Bank allocates 64% of its funding to adapt to climate change. continent, and it has now opened a window for climate action aimed at providing specific resources and technical assistance to least developed countries on the continent.

For his part, Alliance President Augustine Njamanshi praised the relationship between development finance institutions, civil society and the private sector in combating climate change in Africa.

“Doubling adaptation financing will not be enough for the continent because governments have already spent a lot of money,” he said, adding that civil society and the private sector, especially banks, must work together for the continent’s benefit.

In turn, Ecotrades Fund Executive Director Pauline Nantungo Kalunda said, “Civil society and the private sector’s collaborative work has enabled 15,000 smallholder farmers to plant trees to increase carbon storage,” calling for the removal of barriers. Prevent communities from accessing climate finance.

Mithika Mwenda, President of the Pan-African Climate Justice Alliance, a strong network of over 1,000 African climate organizations, emphasized the catalytic role of civil society and praised the partnership with the Bank.

“Government, the private sector and civil society are forming a ‘parallel’ in the fight against climate change in this coastal country,” said Roger Barrow, Burkina Faso’s environment minister.

• The African Development Bank allocates 64% of its financing to climate change on the continent.

5 Priorities:

– adaptation.

– Losses.

– Damages.

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– Food and land use systems.

– Conservation and restoration of forests.

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The UAE has long-term strategies for environmental sustainability

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The UAE has long-term strategies for environmental sustainability

According to a study conducted by the Regional Center for Strategic Analyzes in Abu Dhabi, sustainability strategies and tackling climate change are at the top of the national action agenda in the UAE. The UAE’s contributions and initiatives during COP 28 gained greater regional and international momentum, support for achieving a better harmonized formula for environmental protection and sustainability, and international pledges to allocate hundreds of billions of dollars to finance climate and sustainable projects.
Interregional said the UAE is making progress in strengthening its environmental leadership by investing tens of billions of dollars and providing legislation, regulatory frameworks, initiatives and policies to address climate change. Participation in dozens of contracts and initiatives around the world.
In this context, Interregional released the “UAE Environmental Achievement Index 2023” to monitor and track the performance of the country’s environmental initiatives in the field of environment and climate, measuring and monitoring 32 sub-indicators since its inception. “UAE Vision 2021” in 2010 to 2022. He also gave predictions till the year 2030.
The Environmental Performance Index is the arithmetic mean of four sub-indicators, namely: climate change, biodiversity, maintenance of a healthy and clean environment and environmental awareness and behaviour, as per the guidelines for developing composite indicators issued by the Organization for Economic Co-operation and Development (OECD).
The center emphasized that the UAE’s approach to climate change has become a priority for government action, in an effort to be “zero climate neutral” and invest in green resources. In this aspect. He explained that there are many motives and reasons behind the UAE’s high priority of addressing the phenomenon of climate change. This comes in the backdrop of the state’s keenness to achieve its strategic plans on climate change. Among the key concepts that have made climate change a government priority are the catastrophic effects worldwide, in particular: droughts and floods, inundation of cities, waves of displacement, damage to agriculture and infrastructure, and degradation. Global food security crises.
The UAE has adopted a comprehensive approach to addressing the climate change crisis, seeking to achieve environmental sustainability through an integrated legislative and regulatory framework, in coordination and cooperation with the international community in this regard. Approach: Localize clean energy, adopt peaceful nuclear energy and support climate legislation and knowledge frameworks, and coordinate with the international and regional community to support international efforts to address climate change. To achieve climate neutrality by 2050, the UAE has won the trust of the international community to host COP28 from here.

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