Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EU says using Russian roubles payment scheme would breach sanctions

Published 02/05/2022, 17:47
Updated 02/05/2022, 17:52
© Reuters. FILE PHOTO: European Commissioner for Energy Kadri Simson, dressed in the colors of the Ukrainian flag, following Russia's invasion of Ukraine, attends the EU commission weekly college meeting, in Brussels, Belgium, March 16, 2022.  Olivier Hoslet/Pool vi

© Reuters. FILE PHOTO: European Commissioner for Energy Kadri Simson, dressed in the colors of the Ukrainian flag, following Russia's invasion of Ukraine, attends the EU commission weekly college meeting, in Brussels, Belgium, March 16, 2022.  Olivier Hoslet/Pool via REUTERS

BRUSSELS (Reuters) - Using Moscow's proposed scheme for foreign companies to pay for gas by enabling Russia to convert their payments into roubles would breach European Union sanctions, the bloc's energy policy chief said on Monday.

"Paying rubles through the conversion mechanism managed by the Russian public authorities and a second dedicated account in Gazprombank is a violation of the sanctions and cannot be accepted," EU energy commissioner Kadri Simson told a news conference after a meeting of EU energy ministers in Brussels.

Latest comments

Gazprom banks is converting euro payments to rubles…are we idiots ?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.