“Gazprom” once again explained to customers in the EU gas payment scheme

“Gazprom” once again explained to especially “dumb” customers in the EU that they will pay for gas not in rubles.

Gas prices Europe EU Nord Stream-2 Russia Germany

Photo: glas.ru

In particular, according to Bloomberg, Gazprom sent a letter to its European customers, in which it says that the decree of the President of the Russian Federation of May 4 “clarifies the procedure” set out in the original decree on paying for gas in rubles. And that EU countries can continue to pay for gas without violating sanctions.

Gazprom said in a letter that the decree guarantees the transparency of the cash flow of foreign buyers and excludes the possibility of any “third party” participating in the calculations. The outlined procedure, apparently, excludes the sanctioned Central Bank,” says in the agency’s message.

On March 23, President Vladimir Putin announced the transfer of payment for gas supplies to the EU countries and other states that have introduced restrictive measures against Russia into rubles. Then he signed a corresponding decree and said that if unfriendly countries do not pay in rubles from April 1, then Russia will consider this a default on gas contracts.

According to the new scheme, Gazprombank will open special currency and ruble accounts for foreign buyers to pay for gas. The buyer will be able to transfer funds to the first account in the currency specified in the contract for the supply of “blue fuel”, the bank will sell it on the Moscow Exchange, after which it will credit rubles to the account of the gas buyer and from it will pay off with the gas supplier – Gazprom.

And on May 4, Putin signed a decree on the temporary procedure for fulfilling financial obligations in the sphere of corporate relations to certain foreign creditors. It says that after the receipt of funds from a foreign buyer to a special currency account, the authorized bank transfers them to the correspondent accounts of the National Clearing Center. Then they are credited to the accounts that ensure the implementation of settlements on foreign currency purchase and sale transactions.


Two EU countries that did not want to understand the new payment scheme have already lost their gas

Formerly Gazprom informedthat stopped gas supplies to the Polish PGNiG and the Bulgarian company Bulgargaz due to non-payment of gas in rubles on time. The gas holding sent a notice to the importing companies of Poland and Bulgaria about the termination of gas supplies from April 27 due to their refusal to make final settlements in Russian rubles. In Warsaw, they say they have found an opportunity to refuse Russian gas by buying liquefied natural gas from the United States and Qatar, as well as by supplying gas from the Norwegian shelf.

PGNiG notes that “the gas transmission infrastructure is now operating smoothly, the national gas transmission system is being supplied on a permanent basis from other sources, underground gas storage facilities are being filled, and fuel is being transferred to consumers in accordance with current demand.” According to PGNiG, the storage occupancy rate is about 80%, which is significantly higher than in the corresponding period of previous years.

In turn, Bulgargaz reported: “After an analysis by the state company Bulgargaz and the Bulgarian Energy Holding (BEH), it was found that the new two-stage payment procedure proposed by the Russian side does not comply with the contract valid until the end of the year and carries significant risks for the Bulgarian side. Including making payments without receiving gas from the Russian side.” It is also alleged that the Bulgarian side has fully fulfilled its obligations to pay for gas. :///

Message “Gazprom” once again explained to customers in the EU gas payment scheme first appeared on TECHNOBLOG.

Leave a Reply

Your email address will not be published.