EU manages to find a way to continue importing Russian energy

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 The European Union is expected to come up with a solution for importers so that they can still import Russian energy without violating sanctions imposed on Moscow.


Bloomberg, citing people familiar with the matter, said that the EU is expected to offer its gas importers a solution to avoid violating sanctions when buying fuel from Russia and still meet the requirements of the General Assembly. President Vladimir Putin on the payment in rubles.


According to the source, the European Commission has told governments that the union does not prevent companies from opening accounts with Russian bank Gazprombank and will allow them to buy Russian gas.


European companies have managed for weeks to find a way to satisfy the request from Russia and continue to have the flow of gas uninterrupted without violating sanctions. In late March, Putin announced that, if the payments were not in rubles, Russia would block gas exports to European countries that depend on Russian gas for heating and electricity.


Initially, the EU argued that the ruble payment mechanism requested by Russia was a breach of contract and a violation of EU sanctions.


However, on May 13, sources said that during the closed-door meeting, the EU seemed to have "green light" for European importers to open EUR or USD accounts at Gazprombank.


The EU did not specify whether these companies are allowed to open ruble accounts. This is a step that Russia requires to maintain gas supplies to Europe. EU officials have previously said that opening such accounts would violate sanctions. So according to the source, the EU's newly updated guidelines failed to make this point clear.


The deadline for the payment of the ruble is approaching for many companies. If they do not comply with Russia's request, Moscow will block the valve of the gas pipeline. Poland and Bulgaria were the first EU countries to have their gas supplies cut off.


Europe has been divided in recent times because of Russia's demand to pay for gas in rubles, when many countries are strongly dependent on this supply.


According to the source, during the meeting on May 13, representatives of EU members also had mixed opinions. While Germany, Hungary, Italy and France support the EU's plan (opening EUR and USD accounts at Gazprombank), Poland thinks that the plan lacks legal clarity. Some other countries expressed confusion about the unspecified instructions in the plan on whether parties can open ruble accounts at Gazprombank.


Previously, Russia required parties to open two accounts at Gazprombank, one in EUR, one in rubles, and stipulated that gas payments would not be settled until EUR was converted into rubles.


Russia has also repeatedly asserted that its request "is not an act of blackmail" as alleged by the EU, and stated that Moscow "has been and will be a reliable supplier of energy resources to all parties and Russia remains committed to it." performance of contractual obligations".

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