Who could have accepted Russia's gas conditions became known

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Which European energy companies have opened accounts in Gazprombank
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Nokolay Doychinov/AFP via Getty Image
13:12, 26.05.2022

Politico published a list of companies that could make ultimatum concessions to Moscow, which demanded to pay for gas in rubles, by opening accounts with Gazprombank.



To date, three EU countries have stopped deliveries of Russian gas due to their energy companies' refusal to comply with a Russian decree dated March 31, according to which payments for gas from "unfriendly countries" must be made through two accounts in Russia's Gazprombank - one in euros or dollars, and the other in rubles for the final currency conversion, the newspaper reports .

However, many more energy companies voluntarily make payments through Russian bank accounts. They all insist that these payments are in line with EU sanctions.

Refused to comply with the Russian decree

Polish PGNiG: The company abandoned the ruble payment method on 12 April. Deliveries stopped on 27 April. Can file a claim to restore supplies in accordance with the contract.

Bulgaria "Bulgargaz": Denied payment in the usual mode. Deliveries stopped on 27 April.

Finnish company Gasum : On April 28, the government of Finland rejected the new payment method. Deliveries stopped on May 21st.

Still on the fence

Dutch GasTerra: The partially state-owned company declined to comment on the details of its contract with Gazprom, but said on May 20 that the lack of clarity on sanctions was "very annoying" and forced the company to "constantly take into account all sorts of scenarios." GasTerra told POLITICO on Tuesday that the situation is still unclear. The government has also said it cannot punish any move to open a ruble account without a clear signal from Brussels that it violates sanctions.

The Netherlands has asked the Commission to clarify the guidance on ruble accounts, a spokesman for the Dutch Ministry of Economy said by email on Tuesday. - More clarity is needed before sanctions can be applied to this particular part.


Continuation of payments through the Russian Gazprombank

These companies continue to pay for and receive Russian gas, but the details of their agreement with the supplier Gazprom - and whether they opened a ruble account - may not be made public.

MVM Hungary:

We pay in euros, Gazprombank converts euros, and this amount is transferred to Gazprom Export, Hungarian Foreign Minister Peter Szijjarto said at a press conference on April 11.

He added that a new gas contract signed in September between MVM subsidiary CEE Energy and Russia's Gazprom Export already allows for alternative foreign exchange payments.

VNG (Germany):

We will pay the invoice amount, which will continue to be denominated in euros, to Gazprombank accounts in accordance with the planned procedure, so that we can ensure timely payment to our supplier, the company said on May 9. We also assume that the conversion to rubles will not cause any difficulties... the opening of the account went perfectly smoothly.

German company RWE:

We are ready for payments in euros and have opened an appropriate account. Thus, we act in accordance with European and German legislation, a company representative said on May 16.

Uniper (Germany):

Uniper has opened an [account] with Gazprombank and has thus taken steps to make the contractual payment in euros to this account in accordance with the new payment mechanism, said Klaus-Dieter Maubach, chairman of the board, on May 18.

French Engie:

Engie has been negotiating with Gazprom regarding Russia's request to change the payment scheme for Russian gas supplies. The Group has taken the necessary steps to be ready to meet its payment obligations, subject to the European sanctions framework, the company said on May 17.


Italian Eni:

Eni has begun the process of opening two … precautionary accounts with Gazprom Bank (one in euros, the other in rubles), the company said on May 17.

Austrian company OMV:

We have now implemented a sanctions-compliant payment process that ensures timely payment for gas supplies, the company said on May 20.

Czech company ČEZ :

We made the payment in euros in accordance with the recommendation of the European Commission. We will not comment on the details, a ČEZ spokesman said on May 20.

Slovak company SPP:

Slovakia paid the April bill in euros in accordance with a valid contract ... based on the EU's conclusion that such a payment does not constitute a violation or circumvention of sanctions, the country's economy ministry said on May 20.

The ministry told POLITICO that the smaller regional gas company also has a contract with Gazprom, which has been retained.

Slovenian Geoplin: Geoplin "has agreed with the Russian partner on a payment procedure that is in line with the contract and at the same time is within the framework of the measures and recommendations of the EU institutions," company director Vanja Lombar told Slovenian television on May 20.

The Head of the Office of the President of Ukraine commented on this situation

I must say right away that the Polish company PGNiG, the Bulgarian Bulgargaz and the Finnish Gasum refused to pay in rubles, so the deliveries were stopped. Thanks to them for this position. But some companies, as the publication suspects, could agree to Russia's terms.

‼️ That is why we propose sanctions against Gazprombank and the entire banking system of the Russian Federation.

Russia is trying to split the unity of the EU through ultimatums.

Those who make concessions to Moscow today increase the risk for their countries in the future. Gas is Moscow's weapon. Just like oil. And any concession in Russia is perceived only as weakness.

We will continue to work diplomatically to make this clear to all European countries.

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Maria Grynevych

Maria Grynevych, project manager, journalist, co-author of Guidebook Sacred Mountains of the Dnieper Region, Lecture Course: Cult Topography of the Middle Dnieper Region.

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