Ten more European gas buyers open payment accounts in rubles

Ten more European gas purchasers have opened accounts with Gazprombank JSC, bringing the total number of customers planning to pay for Russian gas in rubles to ten.

Twenty European corporations have created accounts, with another 14 clients requesting the necessary paperwork, according to the source, who spoke on the condition of anonymity to discuss secret concerns. He refused to name the firms.

For weeks, European customers have been trying to figure out how to comply with Putin’s command to pay for Russian gas in rubles beginning April 1 while avoiding European Union sanctions imposed in response to Putin’s invasion of Ukraine.

According to a source close to Gazprom, the existing rules entail that once the buyer pays foreign currency to Gazprombank, the transaction is essentially finished because the following conversion to rubles is automated and does not involve Russia’s central bank, which is subject to EU sanctions.

The EU has yet to say if the Russian adjustments have allayed its fears, but Italian Prime Minister Mario Draghi stated on Wednesday that enterprises will be able to pay for gas in rubles without violating the limits.

“Most of the gas importers have already opened their accounts in rubles with Gazprom,” he said at a news briefing.

He claimed GermanyGermany’s largest gas importer, had already paid in rubles. Germany, like Italy, is a major user of Russian gas.

According to a source close to Gazprom, the number of consumers who paid in rubles has remained at four since late last month.

He stated that payments from additional buyers are expected later this month.

Also Read

Trump blasts Biden’s massive Ukraine aid bill

Former US President Donald Trump, in a statement, blasted the US for...