EU Plans to Issue Detailed Guidance on Russia’s Rubles-for-Gas Demand
- Commission to present further guidelines on gas payments
- Italy, Hungary voice concerns over risk of supply disruptions
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The European Union will provide more detailed guidance in the coming days on what companies can and can’t do under EU sanctions rules to address Russia’s demands to pay for gas in rubles as governments fear the economic risk of Moscow halting supplies.
EU energy commissioner Kadri Simson said Monday that the bloc needs to give companies clarity that the Kremlin’s mechanism -- which would require European companies to open euro and ruble accounts at Gazprombank -- “is a violation of the sanctions and cannot be accepted.”