Russia says it’s cutting off its natural-gas supply to the Netherlands as the Dutch refuse to pay in rubles. Denmark could be next.

Russia says it’s cutting off its natural-gas supply to the Netherlands as the Dutch refuse to pay in rubles. Denmark could be next.

Russian energy giant Gazprom is set to cut natural gas supply to Netherlands on Tuesday, as Dutch trader GasTerra has refused to make payments in rubles. In a March 31 decree, demanded that natural-gas payments be made in rubles, which would entail opening a euro and ruble account with to process payments. "GasTerra will not go along with Gazprom's payment demands," said GasTerra, which is partly owned by the state and trades on behalf of the government. "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 rout," the Dutch company wrote on Monday. "In particular, opening accounts in Moscow under Russian law and their control by the Russian regime pose too great a risk." In response, Gazprom has announced that it will discontinue natural gas supply go GasTerra from Tuesday, according to the Dutch company. The Dutch government said it understands GasTerra's decision not to comply with Gazprom's demand to pay in rubles. "This decision has no consequences for the physical supply of gas to Dutch households," Dutch said on Twitter on Monday. The Netherlands relies on Russia for