EU Rejects Russia’s Ruble-For-Gas Scheme, Warns Of Supply Shock

At the conclusion of its Monday meeting, the European Union has said it will not heed Russian demands to pay for gas in rubles, with a mid-May deadline for payment looming.  The bloc also warned its member states to prepare for Russia to cut off gas to all members.  Failure to meet Russian demands on this point have already resulted in gas being cut off to Poland and Bulgaria last week.  European energy commissioner Kadri Simson said on Monday that all energy ministers across the bloc had acknowledged that paying in roubles would…