FT: Germany, Austria, Hungary and Slovakia open ruble accounts for gas

Gas importers in the European Union are preparing to agree to Russian demands for the purchase of gas in rubles, the Financial Times reported.

“Some of Europe’s largest energy companies are preparing to use a new payment system for Russian gas demanded by the Kremlin, which critics say will undermine EU sanctions and threaten the unity of the bloc. and will offer billions in cash to the Russian economy. ”

Referring to which companies are preparing to make such a move, the Financial Times, citing people who are aware of the preparations:

“Gas distributors in Germany, Austria, Hungary and Slovakia plan to open ruble accounts with Gazprombank in Switzerland to meet Russia’s demand for payments in their own currency. These groups include two of the largest importers of Russian gas station: Uniper based in Düsseldorf and OMV based in Vienna “.

The Austrian government responded yesterday, Wednesday, that deliveries of Russian gas to the country continue without restrictions and that there is no indication that this will change, while trying to find alternative sources of supply.

According to the Financial Times, the Italian Eni, another of Gazprom’s biggest customers, is considering its options. The Italian-backed company has until the end of May, when it will make the next payment for Russian supplies, to make a final move, the newspaper reported, citing Italian officials.

An OMV spokesman told Reuters that the company was working on a solution that would be compatible with the sanctions, but declined to say whether that meant using accounts, according to an FT report today. Eni declined to comment.

Germany’s Uniper is set to transfer its payments for Russian gas to a Russian bank and will no longer use a European-based bank, the utility told the Rheinische Post today.

SOURCE: AMPE

Source: Capital

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