Share on facebook
Share on twitter
Share on linkedin
Share on telegram
Share on whatsapp

​EU sees way to pay for Russian gas without breaching sanctions

EU companies may be able to work around Russia’s demand to receive gas payments in roubles without breaching sanctions if they pay in euros or dollars which are then converted into the Russian currency, the European Commission said on Friday.

The companies would also need to seek additional conditions on the transactions, such as a statement that they consider their contractual obligations complete once they have deposited the non-Russian currencies.

Moscow has warned Europe it risks having gas supplies cut unless it pays in roubles. In March it issued a decree proposing that energy buyers open accounts at Gazprombank to make payments in euros or dollars, which would then be converted to roubles.

The Commission said earlier this month that the decree risked breaching EU sanctions since it would put the effective completion of the purchase – once the payments are converted to roubles – into the hands of the Russian authorities.

In an advisory document sent to member states on Thursday, however, the Commission said Moscow’s proposal does not necessarily prevent a payment process that would comply with EU sanctions against Russia over the Ukraine conflict.

The Commission’s advice is not legally binding, but is an attempt to steer the discussion while member states work out how they can continue to pay for Russian gas.

Brussels said in the document that there were options that could allow companies to continue lawfully paying for gas.

“EU companies can ask their Russian counterparts to fulfil their contractual obligations in the same manner as before the adoption of the decree, i.e. by depositing the due amount in euros or dollars,” the document said.

However, the procedure for securing exemptions from the requirements of the decree is not yet clear, it said.

Before making payments, EU operators could also make a clear statement that they consider their contractual obligations to be completed when they deposit euros or dollars with Gazprombank – as opposed to later, after the payment is converted into roubles, the document said.

“It would be advisable to seek confirmation from the Russian side that this procedure is possible under the rules of the decree,” the document said.

A European Commission spokesperson said companies should stick to the currency agreed in their contracts with Gazprom – 97% of which are in euros or dollars.

The EU’s sanctions regime does not prohibit companies from opening accounts with Gazprombank, or engaging with the bank to attempt to seek a solution, the document said.

(Reuters)

    Fake 9/11: Eye opening videos

    General Wesley 9/11 ‘General Wesley Clark discusses the “Project For The New American Century”, which was written one year before 9/11. It mentioned needing a

    Who is pumping Ukraine with weapons

    Top donors of military support (over 30 billion euros in total): USA with €23.96bnBritain 2.38 billion eurosPoland 1.7 billion eurosGermany 1.39bn euros US: M777 howitzers

    Ukraine admits major defeat

    Zelensky’s adviser admits loss of Liman, major Ukrainian stronghold in Donbass Russian troops have taken over the town of Liman in the northern Donetsk region,

    Today’s Must-Reads – 25 May 2022

    Covid Nature – Multisystem involvement is common in post-COVID-19 syndrome. PubMed – Atomic force microscopy analysis of native infectious and inactivated SARS-CoV-2 virions. Independent – Fears of long-Covid

    Russia Moves to Withdraw From WHO, WTO

    Proposals for ending membership in the international organizations have been sent to the parliament RT – Russia’s lower house of parliament, the State Duma, is

    Biden seeks $33B for Ukraine

    Russia’s President Vladimir Putin has warned the West of a “lightning fast” response to any country that intervenes in its war against Ukraine war and

    Poland seizes Russian gas assets

    Energy producer Novatek has been ordered to hand over its transmission infrastructure to the country’s state-owned firms RT – Warsaw has obliged the Polish subsidiary

    Top 10 Stories of April 23, 2022

    Zelensky Says He’ll Meet the U.S. Secretary of State and Pentagon Chief in Kyiv Tomorrow — They will be the highest-ranking U.S. officials to visit

    Top 10 Stories of April 21, 2022

    Putin Says Mariupol is “Liberated,” Calls Off Assault on Steel Plant — Instead of the assault, Putin ordered the steel plant to be put under

    0
    Would love your thoughts, please comment.x
    ()
    x

    Get in Touch!

    Purpose of your Contact
    Where can i reach you?
    What would you like to discuss?
    [crypto-donation-box]

    Are you intending to visit the Lorphic marketing agency?