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EU determines how Russian gas payments will be made

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According to the reports in the international media, the EU Board has sent a guide to the member states that includes ways to make natural gas payments to Russia in line with EU sanctions.

In the guide, it was mentioned that European companies can make gas payments to Russia by fulfilling the conditions.

It is stated in the guide that companies can open an account in a bank designated by Russia and not pay to the account of this bank for gas purchases from Russia.

In the guide, it was pointed out that when companies pay euros or dollars for gas, they must make a statement regarding the completion of their obligations under existing contracts.

Thus, it was stated in the guide that the companies would not have made a process with the Central Bank of Russia in converting the euro into rubles, and that the process in question would not be within the scope of sanctions.


Russia enacted the decree on April 1, which stipulates that unfriendly countries should open foreign currency and ruble accounts at Gazprombank and make their payments in rubles.

Exporting countries importing power from Russia will primarily transfer the payment to their foreign currency accounts at Gazprombank, and Gazprombank will convert this currency into Russian rubles and transfer it to their ruble accounts. Subsequently, the payment will be transferred to the account of the supplier company and if the money is not deposited into the account in the mentioned bank, natural gas will be cut off.

While taking this decision, Russia aimed to add value to the Russian ruble on the one hand, and aimed that Western countries would have to buy rubles from banks that imposed sanctions.

The EU Council announced month that gas payments to Russia in rubles by European companies would be a violation of existing sanctions.

Thereupon, EU member states requested information from the Committee on how to make payments without violating sanctions.

Russia had gassed Poland and Bulgaria, which refused to pay in rubles.

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