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The European Commission has prepared updated recommendations for EU companies on the purchase of Russian gas. The European Commission announced this at a closed meeting on May 13, writes Bloomberg, referring to the meeting participants.
The new recommendations plan to prescribe that gas buyers can open in Gazprombank account in euros or dollars (as required by Russia), and purchase gas in accordance with EU sanctions imposed due to the Russian invasion of Ukraine.
The document will indicate that companies must clearly state that they consider their obligations fulfilled after the transfer of euros or dollars, and not after converting the currency into rubles.
The European Commission did not specify whether Russia’s requirement for companies to open ruble accounts with Gazprombank complies with EU standards. Officials have previously said that opening such an account would violate sanctions. The updated recommendations do not address this point.
Initially, the European Commission considered that Moscow’s requirement to pay for gas in rubles would violate EU sanctions imposed on Russia and supply contracts, the terms of which do not provide for a change in the payment currency.
Government representatives were divided at Friday’s meeting, one of the sources said. While Germany, Hungary, Italy and France generally approved of the commission’s plan, Poland said it lacked legal clarity and urged EU ambassadors to discuss the matter. Others were confused by the lack of specific instructions for opening accounts in rubles (English)
From April 1, the Russian authorities demand that “unfriendly countries”, to which the Russian authorities include, among other things, all EU states, carried out settlements for gas supplies in Russian rubles, otherwise gas exports will be stopped. April 27 Gazprom stopped gas supplies to Bulgaria and Poland, “due to non-payment in rubles.”
