Russia allows gas flows to Gazprom Marketing & Trading for 90 days

RUSSIA gave permission for natural gas supplies to Gazprom Marketing & Trading Singapore Ltd, part of Gazprom Germania, from Yamal LNG project for 90 days, a government decree showed on Wednesday (May 25).

The move comes less than 2 weeks after the Kremlin said that Russian sanctions imposed on state gas company Gazprom's former German unit and other entities meant they could not receive gas supplies from Russia.

Germany, Russia's top client in Europe, in early April transferred Gazprom Germania, an energy trading, storage and transmission business ditched by Russia's Gazprom, to its energy regulator to ensure energy security.

Energy ties between Russia and Europe plunged into crisis after Moscow started what it calls "a special military operation" in Ukraine on Feb 24 and the West responded with sweeping sanctions that put Russia on the brink of recession and a default on external public debt. REUTERS