VNG will transfer payments in euros for Russian gas to Gazprombank in the future and does not expect problems with the conversion into rubles, the German company announced on Monday, satisfying Moscow’s request under a new payment system, according to the Reuters agency.
The VNG announcement comes as the Kremlin has demanded the payment of Russian gas in rubles through a complex scheme.
European gas buyers are concerned that the adoption of the new measures, which require them to open accounts with Gazprombank for future payments, could violate the sanctions and that their rejection could cause significant disruptions to gas supplies.
VNG, which has a majority stake in the German company EnBW, said it was taking all necessary measures, in accordance with the current sanctions law, to continue to ensure supplies and, consequently, financial stability in Germany.
“We will pay the amount of the invoice, which will continue to be paid in euros, to the accounts in Gazprombank in accordance with the prescribed procedure, in order to ensure our timely payment of our supplier,” VNG said in a statement.
“We also assume that the conversion into rubles will not cause any difficulties. At least the opening of the account went quite smoothly,” the company added.
The company did not respond to a request for comment, but did not immediately respond to a request for comment.
Together with Uniper and RWE, VNG is one of the leading importers of Russian gas in Germany.
EnBW reported that 20% of the 495 terawatt-hours of gas supplied last year came through direct agreements with Russian suppliers, adding that these quantities would be reduced from 2023 onwards.
Source: Capital
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