Germany Gas Importer Breaks Russian Sanctions, Purchases Russian Gas in Rubles

At least ten more additional European gas purchasers have opened accounts with Gazprombank JSC, bringing the total number of clients planning to pay for Russian gas in rubles to twenty.

According to the source quoted in a report by Bloomberg, there were also 20 European corporations have created accounts, with another 14 clients requesting the necessary paperwork.

The unnamed news source declined to name the companies but explained that clients must open two accounts in Gazprombank, one in foreign currency and the other in rubles, under the new system.

According to an unnamed source close to Gazprom, the existing rules entail that once the buyer pays foreign currency to Gazprombank, the transaction is effectively finished because the subsequent conversion to rubles is automatic and does not involve Russia’s central bank, which is subject to EU sanctions.

A source close to Gazprom also said the number of consumers who paid in rubles has remained at four since late last month while other buyers’ payments are due later this month.

In a related development, German Vice-Chancellor and Minister for Economic Affairs and Climate Action Rober Habeck said on Thursday that Germany is studying Moscow’s statements on imposing sanctions on some European companies while the country continues to receive gas and potential disruptions can be compensated for.

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