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Arthur T Knackerbracket has processed the following story:
Russia’s Gazprom has told customers in Europe that it cannot guarantee gas supplies because of “extraordinary” circumstances, according to a letter seen by the Reuters news agency, upping the ante in an economic tit-for-tat with the West over Moscow’s invasion of Ukraine.
The Russian state gas monopoly said in a letter dated July 14 that it was retroactively declaring force majeure on supplies from June 14. The news comes as Nord Stream 1 (NS1), the key pipeline delivering Russian gas to Germany and beyond, is undergoing 10 days of annual maintenance scheduled to conclude on Thursday.
The letter added to fears in Europe that Moscow may not restart the pipeline at the end of the maintenance period in retaliation for sanctions imposed on Russia over the war in Ukraine, heightening an energy crisis that risks tipping the region into recession.
Known as an “act of God” clause, force majeure is standard in business contracts and defines extreme circumstances that release a party from their legal obligations. The declaration does not necessarily mean that Gazprom will stop deliveries, rather that it should not be held responsible if it fails to meet contract terms.
[...] Russian gas supplies have been declining via major routes for some months, including via Ukraine and Belarus as well as through the Nord Stream 1 pipeline under the Baltic Sea.
[...] The grace period for payments on two of Gazprom’s international bonds expires on July 19, and if foreign creditors are not paid by then the company will be technically in default.
(Score: 2) by Opportunist on Thursday July 21 2022, @03:32PM (4 children)
I remember some asshole that tried this around these parts here. It works pretty well 'til the kids have to go to war, then they suddenly don't like it that much anymore.
(Score: 0) by Anonymous Coward on Thursday July 21 2022, @04:13PM (3 children)
??? What parts are "here"? Who is the asshole?
(Score: 0) by Anonymous Coward on Thursday July 21 2022, @05:55PM (2 children)
If you have to ask who is the asshole...
(Score: 1) by khallow on Friday July 22 2022, @11:48AM (1 child)
(Score: 0) by Anonymous Coward on Friday July 22 2022, @06:58PM
Self awareness is beginning in khallow. I almost didn't point it out since it usually causes a regression, but that is likely anyway with conservatives. Libertarians are no different except for issues they don't care about, then logic and reason sometimes work.