EU Commission stands by its guidance on payments for Russian gas

14/5/2022 7:16

        The European Commission stands by its previous guidance on how EU companies can pay for Russian gas without breaking sanctions on Russia and is in contact with EU governments to provide more explanations if needed, a Commission spokesman said on Friday.
        
        The Commission said at the start of May that it would update its previous guidance on payment for Russian gas purchases as several EU governments and large importers said they were not sure if they could be seen as breaking the sanctions regime.
        
        The Commission had said that EU firms would be in the clear if they paid in euros and declared the transaction completed at the moment of the transfer of the euros.
        
        This would prevent them from being involved in dealing with the Russian central bank, which is under sanctions, and which under a decree of Russian President Vladimir Putin has to exchange the euros into roubles before the transaction is complete.