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BBG: Four European Buyers Have Paid For Gas In Roubles

NATURAL GAS

Bloomberg reporting comments from 'someone close to Gazprom' that four European gas buyers have already paid for supplies in roubles, and 10 more have opened Gazprombank accounts in order to pay in the Russian currency.

  • Next wave of European gas payments in roubles due after 15 May.
  • At present it is unclear whether this would be in breach of EU sanctions. But if true, the move would come in for severe criticism from EU institutions and Russia hawks in the Western alliance.
  • Speculation that firms could pay Gazprombank in euros, which is then sold at the Moscow exchange for roubles, with the Russian currency then transferred to Gazprom, fulfiling the contract terms.

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