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Russian Gas Supply to Austria at Risk From Gazprom Court Case
Austria’s reliance on Russian natural gas is being tested, after OMV AG warned traders that European courts could interrupt its payments to Gazprom PJSC. A failure to pay the Kremlin-controlled gas giant on time would likely interrupt supplies, OMV said late Tuesday in a so-called urgent market message. Gazprom has covered more than 80% of Austrian imports over the last seven months under a long-term contract running until 2040. The warning stems from a “foreign court decision obtained by a major European energy company,” OMV wrote in a statement. Should Austrian courts enforce the decision, potentially ... (full story)