Payments can further be made in euros or dollars to the Russian account. Gazprombank then exchanges the money for rubles and transfers it to Gazprom.
According to the Russian statement, Western countries such as Germany and Austria must have accounts with the Gazpromopen a bank to continue receiving gas. Otherwise, deliveries to the states on a list of “unfriendly countries” would be stopped, President Vladimir Putin announced on Thursday.
The states must therefore ensure future payments in Russian currency via the accounts that have an area for currencies – i.e. euros or dollars – and one for rubles.
However, according to a decree signed by Putin, payments can still be made in euros or dollars to the Russian account. Gazprombank then converts the money into rubles and transfers the amount to Gazprom. For Russia, the system would have the advantage that the ruble, which has recently come under pressure because of western sanctions, would appreciate significantly.
Gazprom continues to supply gas
According to its own statements, the Russian gas giant Gazprom will deliver gas through Ukraine to Europe on Friday as ordered. The ordered delivery volume of European customers amounts to 108.4 million cubic meters following 109.5 million cubic meters on Thursday, the state-controlled group announced.
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