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OMV to pay for Russian gas in euros: Money will be transferred to Gazprombank, without violating sanctions imposed on Russia


“We have now implemented a payment process that respects the sanctions, it will ensure the payment of gas deliveries in a timely manner. We consider our payment obligations to be fulfilled with the transfer of the amount in euros, “an OMV spokesman told Reuters.

After Russia asked foreign buyers to pay in rubles for the gas delivered, otherwise they risked their supply being interrupted, some EU governments and companies have asked for detailed instructions from the EC on possible payment solutions for natural gas, a used fuel in the heating of homes, the production of electricity and the operation of plants in Europe.

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According to the European Commission, EU sanctions do not prevent companies from opening accounts with a designated bank and companies can pay for Russian gas as long as they do so in the currency agreed in their current contracts and declare the transaction completed when it is paid in that currency.

The German company VNG was the first to announce earlier this month that it would transfer the euro to a Gazprombank account for the conversion of rubles, in a move aimed at continuing to secure supplies.

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