You are currently viewing One of the main importers of Russian gas from Germany accepts the payment scheme that Moscow demands


May 11, 2022 03:08 GMT

VNG points out that it had no problem opening the account in the Russian bank Gazprombank.

VNG, one of the main importers of Russian gas from Germany, has agreed to the payment scheme demanded by Moscow, under which the company will pay Gazprombank in euro deposits, which the bank then convert to rubles, informs Reuters.

“We will pay the amount of the invoice, which will continue to be denominated in euros, in the accounts of Gazprombank in accordance with the established procedure, in order to guarantee timely payment to our supplier on our part,” the company said in a statement, while He added that he had no problem opening the account at the Russian bank.

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However, the German importer did not clarify whether he had opened two bank accounts, one for payments in euros and the other for conversion into rubles, as required by Moscow, something that Brussels criticizes as violation of sanctions taken by the European Union to Russia for its operation in Ukraine.

Previously, the President of the European Commission, Ursula von der Leyen, asserted that Moscow uses the gas as “blackmail tool” by demanding payment in rubles. In addition, warning that agreeing to Russian demands will be “high risk for companies”.

For its part, VNG assured that it is taking all necessary measures in accordance with the existing sanctions law to guarantee supply and thus economic stability in Germany.

“Political Choice Matter”

However, Konstantin Simonov, executive director of the Russian National Energy Security Foundation, pointed out that Europe’s division on this issue is due to political reasons. The expert points out that the scheme presented by Russia is “very comfortable for buyers” who, technically, they pay in euros for gaswhile Gazprombank handles the conversion to rubles.

“Technically, if the company wants to say they pay in euros, they can declare it in Europe. So it’s just a matter of political choiceand that is why it is now clear who is making an economic decision and who is making a political decision,” he explained.

  • On March 23, Russian President Vladimir Putin announced that his country will only accept payments in Russian rubles for gas supplies from “unfriendly” countries. “We have supplied our resources, in this case gas, to European consumers. They have received it, they paid us in euros which they then froze on their own account. In this case, there is every reason to consider that we supply part of the gas practically free. sent to Europe,” summarized the president.


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