LAST UPDATE: 18:12
European Union companies may be able to comply with Russia’s proposed ruble gas payment system without violating the bloc’s sanctions against Moscow, but it is unclear how such a process will work, she said. The European Commission on Friday, as reported by Reuters.
Moscow issued a decree in March proposing that energy buyers open accounts with Gazprombank, where payments in euros or dollars would be converted into rubles.
The decree does not necessarily impede a payment process that would comply with the EU sanctions regime, the commission said in a document sent to EU member states and posted online.
At the same time, according to Bloomberg, the document stated that the scope of the exceptions is not yet clear and that companies could continue to pay in euros. The commission advised the companies to seek confirmation from Moscow that this was possible.
Source: Capital
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