Europe may find a way to avoid Russian gas sanctions
The EU is said to be trying to help importers avoid violating sanctions by buying Russian gas while still meeting Moscow’s requirements.
Under the new guidance on gas payments, the European Commission (EC) asks the bloc’s energy companies to make it clear that they have fulfilled their obligations after paying for Russian gas in euros or dollars in accordance with the terms of the agreement. existing contract, Bloomberg cited informed sources.
EU officials say the guidance does not prevent companies from opening new accounts at Gazprombank, part of Russia’s Gazprom group, which would allow them to continue buying Russian gas without violating EU sanctions. booked with Moscow.
European companies have for weeks been trying to figure out how they can satisfy a demand for gas payments in rubles from Russia and maintain the flow of gas to the EU without violating sanctions on Gazprombank.
At the end of March, President Vladimir Putin announced that countries “unfriendly” to Russia would have to pay for gas import contracts in rubles. President Putin also suggested that Western customers transfer euros and dollars to an account opened at Gazprombank, which will then be converted into rubles by this bank.
Russian construction workers during the groundbreaking ceremony for the Nord Stream pipeline in Portovaya Bay, about 20 miles from St. Petersburg, Russia about 170 km northwest, April 9, 2010. Image: AP.
The EU initially argued that this mechanism gave Russia full control of the payment process, violating the terms of the contract and the bloc’s sanctions.
However, during its closed-door meeting on March 13, the EC told member states that the updated guidance will clarify that companies can open accounts in euros or USD at Gazprombank at the request of the Government. Kremlin.
However, the EC did not say whether owning an account in rubles was compliant with the block’s regulations. EU officials have previously argued that opening such an account would violate sanctions, although that has never been shown in writing.
The source said the updated EC guidance did not address this sticking point.
Another important point in the guidelines is that once European companies transfer money in euros or USD and declare that their payment obligations have been fulfilled, the Russian side will not be required to ask them to take any further action. to that payment.
The source said that representatives of EU countries also had many disagreements during the closed-door meeting on May 13. Germany, Hungary, Italy and France endorse the EC’s plan, while Poland argues that the guidance is not legally clear. Other members were confused by the lack of specific instructions on how to open an account in rubles.
At the meeting, Germany said it had consulted with gas importing companies about this proposal and received a positive response. It also sought to refine the recommendations by clarifying that EU sanctions do not prohibit the opening of multiple accounts at Gazprombank.
The EC and Russia have not commented on this information.
Duc Trung (According to Bloomberg)
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