Russian gas flowed into Europe on Friday, while European gas prices continued to rise, as firms grappled with President Vladimir Putin’s threat to cut off supplies unless they paid in roubles. Two of the three main pipelines for Russian gas into Europe, Nord Stream 1 across the Baltic Sea and into Slovakia over Ukraine were flowing normally, while flows through the Yamal-Europe pipeline over Belarus had reversed direction. While this meant gas is flowing from Germany to Poland through the Yamal-Europe route, it is not an uncommon switch. Under the decree signed by Putin, foreign buyers of Russian gas must open rouble accounts in state-controlled Gazprombank from Friday to allow foreign currency to be converted to roubles. read more Analysts said the plan, which puts Gazprom at the heart of the trade, was more about shielding it from future sanctions than depriving Europe of […]