EU companies may be able to work around Russia's demand to receive gas payments in roubles without breaching sanctions if they pay in euros or dollars which are then converted into the Russian currency, the European Commission said on Friday.

The companies would also need to seek additional conditions on the transactions, such as a statement that they consider their contractual obligations complete once they have deposited the non-Russian currencies.

Moscow has warned Europe it risks having gas supplies cut unless it pays in roubles. In March it issued a decree proposing that energy buyers open accounts at Gazprombank to make payments in euros or dollars, which would then be converted to rubles.

The Commission said earlier this month that the decree risked breaching EU sanctions since it would put the effective completion of the purchase - once the payments are converted to roubles - into the hands of the Russian authorities.

In an advisory document sent to member states on Thursday, however, the Commission said Moscow's proposal does not necessarily prevent a payment process that would comply with EU sanctions against Russia over the Ukraine conflict.

The Commission's advice is not legally binding, but is an attempt to steer the discussion while member states work out how they can continue to pay for Russian gas.

Brussels said in the document that there were options that could allow companies to continue lawfully paying for gas.

"EU companies can ask their Russian counterparts to fulfil their contractual obligations in the same manner as before the adoption of the decree, i.e. by depositing the due amount in euros or dollars," the document said.

However, the procedure for securing exemptions from the requirements of the decree is not yet clear, it said.

Before making payments, EU operators could also make a clear statement that they consider their contractual obligations to be completed when they deposit euros or dollars with Gazprombank - as opposed to later, after the payment is converted into roubles, the document said.

"It would be advisable to seek confirmation from the Russian side that this procedure is possible under the rules of the decree," the document said.

A European Commission spokesperson said companies should stick to the currency agreed in their contracts with Gazprom - 97% of which are in euros or dollars.

The EU's sanctions regime does not prohibit companies from opening accounts with Gazprombank, or engaging with the bank to attempt to seek a solution, the document said.

Telegraph UK || Reuters || Seeking Alpha

EU do not have a choice

Russia gas is the cheapest for Europe.

Is either Russia gas or people go on the street when Winter starts knocking in Europe. Gas will be so expensive in Europe if they insist on boycotting Russia gas. Good news for ruble

Well soon the world will learn that the dollar is a rip off . We need o do he same in Nigeria

Eeya poor EU don’t want to die early of heat and cold.

Putin is a drowning man.


Germany has announced that it will stop buying Russia's gas by the end of this year, other European countries will follow suit and that despot in Moscow will have no leverage left

When we tell these western puppets here that Putin knows how to play this game than sleepy joe and his lap dogs like Boris Johnson and Macron they say we are over rating Putin. It’s all playing out now. Putin is still keeping the Russian economy running and afloat even after the whole evil sanctions. My love for this man called Vladimir Putin is beyond this world. The El Patron.

I can recall how some mumus were rejoicing when it was the sanction season then against Russia.

The fools were capping crap. "Europe will boycott Russia", "Russia will only be able to sell to poor India and China"...

I was just looking at the muntulas. Even at the heat of the sanction, some EU countries were still doing backdoor deals on Russian oil.

Some nairalanders ehn, I dont know whether to say that sometimes una shame dey shame me, or that una go just deliberately let sentiment cancel una common sense.

Clowns

It's alright

Strong man Putin.. Nigeria for dey reap financially from this war, through crude oil and same Gas, but no, the country is not normal.

Wow... Putin has exposed this people. Seriously if you work on yourself, people will respect you. Work on yourself.

I love you Putin

God1000:
Putin is a drowning man

Na you drown am?

After all the fake analysis some people were giving here..

EU MUGU must pay.....

[img]https:///media/4-02-2022/WHvSd9.gif[/img]

You are fighting PuTIn
You are funding Putin.

I don't understand anymore


Dont start what you can't finish

B

Damnnnn!!! Putin is a crazy nigga. Lmao.

Like he knew EU wouldn’t have a choice. Guess he got them by their balls this time around. Lol

Y

Putin my man

Give them wotowoto.

Hahahahahaha

Putin master of the world currently

I never expect the west to be this scared


It is no obvious Putin is the smartest leader


They have left Ukraine alone

Putin must collect wotowoto

That's what we are saying never you become useless in life that your enemies, should have no need of you.
See as Lord Putin rubbished US,EU & NATO's sanctions like Okoro in a Brothel.

Chai

Putin, has gotten Europe � with a choke hold around their balls...