[Milan / Berlin 20th Archyde.com]–Germany and Italy will be able to open a ruble account to continue purchasing without violating sanctions against Russia after consultation with the European Union (EU) on the issue of payment of Russian gas. I learned from a source that I told my company.
The German government has told gas importers that opening a ruble account is not a violation of sanctions unless payments to Gazprombank are made in rubles. Germany has consistently worked closely with the EU on this issue, according to people familiar with the matter.
A senior Italian government official said he had been briefed by the European Commission on how to legally purchase Russian gas. Energy giant ENI has since begun the process of opening euro and ruble accounts.
According to the guidelines documented by the EU, companies can purchase Russian gas without violating sanctions by paying in the currency agreed in the existing contract and declaring the contract fulfillment at the time of payment in that currency.
However, it is not clear whether opening a ruble account to exchange these payments for Russian currency is a violation.
Diplomatic sources in some EU member states have said that the guidelines have been deliberately ambiguous so that they can continue to buy Russian gas.