The European Union has found a solution to import Russian gas without violating European sanctions and to comply with Russia’s request to pay for oil in rubles. This was reported by Bloomberg, citing sources.
According to the news agency, in a closed meeting on Friday, the European Commission (EC) informed EU member states that the new guide will clarify that companies can open Gazprombank accounts, while they have to make payments in dollars or euros. declare that it considers that the obligations incumbent on them under the contract have been fulfilled. If these conditions are met, the regulator will not consider the actions of the companies as a violation of the sanctions.
During the meeting, a number of disagreements arose on this issue. While Germany, Hungary, France and Italy supported the proposed plan, but Poland still had questions about the legal side of the new decision, its representatives suggested holding a meeting of EU ambassadors. Some countries were also unhappy that the new guide did not make it very clear whether European companies could open ruble accounts at Gazprombank. According to the agency, this is one of the key issues, as the creation of a ruble account was previously considered a violation of sanctions, although this was not recorded on paper.
Earlier this week, Bloomberg reported that about 20 European companies had already opened accounts with Gazprombank to pay for Russian gas supplies, and another 14 had requested a list of documents needed to open such accounts.
On March 31, Russian President Vladimir Putin signed a decree that, starting with April 1, established a new procedure for the payment of Russian gas supplies by buyers from unfriendly countries. Such states must transfer foreign currency funds to Gazprombank, which will buy rubles in foreign exchange and transfer them to the special ruble accounts of importers. At the same time, Russia will continue to supply gas in volumes and at prices set in previous contracts.
The European Commission has announced that paying for gas supplies in rubles is a breach of existing agreements, with most countries officially saying they will not pay in Russian.
If you like this article, we look forward to joining the community of readers on our Facebook page, with a Like below: