EU Says Companies Can Continue to Buy Russian Gas
The European Commission said companies can continue buying Russian gas without violating sanctions, tempering its stance on the issue. A commission spokesperson said the EU sent revised guidelines to EU member states May 13, saying companies should "make a clear statement" they consider their obligations fulfilled once they pay in euros or dollars, Bloomberg reported May 16.
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The commission said that EU sanctions "do not prevent economic operators from opening a bank account in a designated bank for payments due under contracts for the supply of natural gas in a gaseous state, in the currency specified in those contracts. Operators should make a clear statement that they intend to fulfil their obligations under existing contracts and consider their contractual obligations regarding the payment already fulfilled by paying in euros or dollars, in line with the existing contracts." The commission doesn't prevent companies from opening an account at Gazprombank, allowing them to buy Russian gas, though the guidance doesn't address Moscow's requirement to open a second account in rubles.