On gas charges in Russia Finally, guidance: Commission allows accounts to be opened with a Russian bank outside EU sanctions

The European Commission has given it long-awaited guidance on how EU countries should handle their gas payments to Russia.

EU officials tell Bloomberg that the Commission will also allow accounts to be opened in a non-EU sanction. To Gazprombank. The President of Russia Vladimir Putin under the proposed arrangement, gas buyers will pay their bills to the bank in euros or dollars and Gazprombank will convert the payments forward in rubles.

For example, the Italian Prime Minister Mario Draghi has considered this a breach of sanctions. The EU policy now received disagrees.

“EU sanctions do not prevent economic operators from opening a bank account with a designated bank for payments under natural gas supply contracts in the currency specified in those contracts,” the Commission says.

Italian state-owned gas giant Eni announced that it was immediately preparing to open an account with Gazprombank. The company says it will have an account in place as early as Wednesday, when the next gas bills in Italy are due.

By Editor

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