Live updates: follow the latest news on Russia-Ukraine
Russia will cut natural gas supplied through pipelines to the Netherlands and Denmark could be next.
GasTerra said shipments would stop on Tuesday after it rejected new payment terms imposed by President Vladimir Putin. Russian company Gazprom confirmed the supply cut.
Denmark’s Orsted said it was preparing for a cut as the company, best known for its wind-power business, also refused to give in.
Russia imposed new payments terms on European companies, which include opening an account in roubles with Gazprombank.
Traders have been closely watching payment disputes, with Gazprom having already stopped supplies to Poland, Bulgaria and Finland as a result.
“GasTerra will not go along with Gazprom’s payment demands,” the company said on its website.
“This is because to do so would risk breaching sanctions imposed by the EU and also because there are too many financial and operational risks associated with the required payment route.”
European nations are split over how to handle Moscow’s demand, and utilities have responded to the challenge differently.
Major buyers such as Italy’s Eni and Germany’s Uniper have said they have found a solution to pay and expect supplies to continue.
Orsted’s payment deadline is Tuesday and the company will continue to pay in euros.
“There is a risk that Gazprom Export will stop supplying gas to Orsted,” the company said.
Countries still can receive Russian liquefied natural gas as Mr Putin’s demands for roubles covered only supplies from Gazprom.
They have all also said that they can cope without the fuel, using alternatives.
Buy worries of a potential supply crunch this winter remain.
The halt in supplies to GasTerra means about 2 billion cubic metres of gas will not be delivered between now and October 1, when the company’s contract with the Russian energy giant was set to expire, the Dutch company said.
That is just more than 1 per cent of Russia’s total supplies to the EU last year.
“The European gas market is highly integrated and extensive,” GasTerra said.
“However, it is impossible to predict how the lost supply of 2 billion cubic metres of Russian gas will affect the supply-demand situation and whether the European market can absorb this loss of supply without serious consequences.”
Orsted has a long-term contract for 20 terawatt-hours a year, or about 1.9 billion cubic metres, with Gazprom that is set to expire at the end of the decade.
While that is just a fraction of EU’s gas imports, it accounts for more than 80 per cent of the 24 terawatt-hours of the fuel that Denmark imported from Moscow in the same period.
Overall, Denmark’s gas imports make up a relatively small portion of European demand so that should not be too difficult to source in the market, according to Stefan Ulrich, an analyst at BloombergNEF.
Orsted had already said it planned to buy far less than the maximum allowed by the contract.
“You’re really talking about small quantities of gas which really won’t change the European balance all that much,” Mr Ulrich said.
Denmark and the Netherlands also rely on domestic production, but that has been declining for years and is not enough to cover consumption in full.
The specs: Hyundai Ionic Hybrid
Price, base: Dh117,000 (estimate)
Engine: 1.6L four-cylinder, with 1.56kWh battery
Transmission: Six-speed automatic
Power: 105hp (engine), plus 43.5hp (battery)
Torque: 147Nm (engine), plus 170Nm (battery)
Fuel economy, combined: 3.4L / 100km
UAE currency: the story behind the money in your pockets
Andor
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MATCH INFO
Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
MATCH INFO
RB Leipzig 2 (Klostermann 24', Schick 68')
Hertha Berlin 2 (Grujic 9', Piatek 82' pen)
Man of the match Matheus Cunha (Hertha Berlin
SERIE A FIXTURES
Saturday
AC Milan v Sampdoria (2.30pm kick-off UAE)
Atalanta v Udinese (5pm)
Benevento v Parma (5pm)
Cagliari v Hellas Verona (5pm)
Genoa v Fiorentina (5pm)
Lazio v Spezia (5pm)
Napoli v Crotone (5pm)
Sassuolo v Roma (5pm)
Torino v Juventus (8pm)
Bologna v Inter Milan (10.45pm)
Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
Company%20Profile
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
UAE currency: the story behind the money in your pockets
Results
2.30pm: Expo 2020 Dubai – Conditions (PA) Dh80,000 (Dirt) 1,600m; Winner: Barakka, Ray Dawson (jockey), Ahmad bin Harmash (trainer)
3.05pm: Now Or Never – Maiden (TB) Dh82,500 (Turf) 1,600m; Winner: One Idea, Andrea Atzeni, Doug Watson
3.40pm: This Is Our Time – Handicap (TB) Dh82,500 (D) 1,600m; Winner: Perfect Balance, Tadhg O’Shea, Bhupat Seemar
4.15pm: Visit Expo 2020 – Handicap (TB) Dh87,500 (T) 1,600m; Winner: Kaheall, Richard Mullen, Salem bin Ghadayer
4.50pm: The World In One Place – Handicap (TB) Dh95,000 (T) 1.900m; Winner: Castlebar, Adrie de Vries, Helal Al Alawi
5.25pm: Vision – Handicap (TB) Dh95,000 (D) 1,200m; Winner: Shanty Star, Richard Mullen, Rashed Bouresly
6pm: Al Wasl Plaza – Handicap (TB) Dh95,000 (T) 1,200m; Winner: Jadwal, Dane O’Neill, Doug Watson
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Disposing of non-recycleable masks
Use your ‘black bag’ bin at home
Do not put them in a recycling bin
Take them home with you if there is no litter bin
- No need to bag the mask
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
