FX-guidance Blog Finance Gazprom explained to Europeans how to pay for gas without violating sanctions – Bloomberg
Finance

Gazprom explained to Europeans how to pay for gas without violating sanctions – Bloomberg

Gazprom sent letters to European customers saying that a new presidential decree of May 4 “clarifies the procedure” outlined in the original document on gas payments in rubles.

According to Bloomberg on May 7, in the letters the Russian supplier is trying to assure European consumers that they can pay for gas without violating sanctions.

“The letter from Gazprom says that the order ensures the transparency of the movement of funds from foreign buyers and excludes the possibility of participation in the calculations of any “third party,” the American edition clarifies.

The letter also says that the new Kremlin decree of May 4 “clarifies the procedure” established by the decree on payment in rubles.

According to the new document, payment for gas will be accepted in foreign currency, which will then be exchanged for rubles through the accounts of the National Clearing Center.

As Bloomberg explains, this mechanism is most likely aimed at excluding participation in gas transactions of the Central Bank of Russia, which fell under sanctions.

The agency’s experts found it difficult to predict whether the new order would be enough to allay the fears of the European Union, which said that opening a ruble account would violate sanctions.

As reported EADailyEarlier, Bloomberg published material on how the Russian military special operation in Ukraine revealed to Austria the “bitter truth” about its complete dependence on Russian gas supplies.

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