Russia’s demand for gas to be paid in local currency rubles has been accepted by major European countries Germany and Italy.
According to a report by a foreign news agency, Germany and Italy have allowed national companies to open accounts in rubles at Russia’s Gazprom Bank to avoid cuts in natural gas supplies. Will pay in rubles.
According to the report, the move comes after Poland, Bulgaria and Finland recently refused to accept Russia’s new payment method, which resulted in Russia suspending gas supplies to those countries. According to the outlet, the move was approved by Brussels after talks with the European Commission and was not considered a violation of sanctions imposed on Moscow by the European Union over the Ukraine conflict.
Russia’s new gas refinancing scheme is for non-friendly countries that have imposed sanctions on Russia for opening accounts in Russia’s GeyserProm Bank, after which they can deposit money in the currency of their choice. Converts to Gazprom.
In this regard, German gas importers have been informed by Berlin that they can open a ruble account for Russian gas payments unless the payments they make to Gazprom Bank are in Russian currency. The Italian government is also reportedly in talks with the European Commission, after which the Italian energy company ENI announced that it had initiated proceedings to open Russian bank accounts.
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It should be noted that Russia has cut off gas supplies to Poland and Bulgaria for non-payment in rubles.