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Four European gas buyers made Ruble payments to Russia amid war with Ukraine: Report

By Saima Siddiqui 
Updated Date

According to a source close to Russian gas giant Gazprom PJSC, four European gas purchasers have already paid for shipments in rubles, as President Vladimir Putin wanted.

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Even if the other purchasers reject the Kremlin’s requirements, additional cutoffs are unlikely until the second half of May, when the next payments are due, according to the source, who spoke on the condition of anonymity to discuss secret affairs.

According to the source, several European firms have already opened accounts with Gazprombank to fulfil Russia’s payment demands.

According to the individual, supplies to Poland and Bulgaria were turned off after they declined Gazprom’s suggested ruble payment scheme, which the gas giant claims does not breach European Union sanctions. Russia provides gas to 23 European nations via pipelines.

Following the EU’s sanctions on Russia for its invasion of Ukraine, Moscow insisted that all supplies be paid in rubles beginning April 1. The EU, on the other hand, warned member states that the Kremlin’s planned scheme, which involved creating euro and ruble accounts with state-controlled Gazprombank, would be in violation of the sanctions.

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