The European Commission explained how EU companies can pay for Russian gas without violating sanctions of the coalition against Russiawith an updated directive on the subject which was revealed by the Reuters agency.
Last month, the Commission told countries that European companies would be able to pay for Russian gas, but only if certain conditions were met. Russia urges foreign buyers to start paying for gas in rubles because otherwise there is a risk of losing their supplies.
In the updated directive, which it announced on Friday in EU countries, the Commission reaffirmed its previous directive that EU sanctions do not prevent companies from opening a bank account and companies can pay for Russian gas – as long as they pay in the currency agreed in their existing contracts and declare the transaction complete when that currency is paid.
Almost all supply contracts which EU companies have entered into with the Russian giant gas company Gazprom is in euros or dollars.
Russia cut off gas supplies to Poland and Bulgaria last month after the two countries refused to comply with its demand for ruble payments. EU governments and major importers have called for more clarity from Brussels on whether they can continue to buy gas, which heats homes, generates electricity and supplies factories across Europe.
Companies should make a “clear statementWho says how, when they pay in euros or dollars, they consider that they have fulfilled their obligations under the existing contracts, it is mentioned in the directive.
It should be understood that “such payments in this currency permanently relieve the company of payment obligations under these contracts, without any further action on their part as regards payment», Is added.
Just completing her obligations deposit euros or dollarsa company can avoid engaging in transactions with the Russian central bank, which has been sanctioned and which could be involved in the conversion of euros into rubles.
By decree of the president Vladimir Putin it is stated that a transaction will be considered completed only after the foreign exchange is converted into rubles.
«Our fundamental position remains unchanged. The payment process, set out in Russia’s March 31 decree, would violate EU sanctions, but there are options available for EU companies to continue paying in euros or dollars as stipulated in the agreed contracts.“, Said a representative of the Commission.
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