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European Gas Swings With Uncertainty Over Russian Payments

  • Austria’s payments for supply comply with law, government said
  • Futures move between gains and losses, and is lower for April
Bloomberg business news
Europe’s Ability to Weather a Russian Oil and Gas Ban
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Natural gas prices in Europe swung between gains and losses with uncertainty about how buyers can keep paying for Russian supply and still avoid busting European Union sanctions.

German utility Uniper SE wouldn’t breach EU restrictions if it opened an account in euros in Russia to pay for gas, a spokesman for the economy ministry said. Austria’s OMV AG expects Russian flows to Europe to continue, while a government minister said the European Commission told Austria that its payments for supply fully conform with the law.