Gazprom assures European customers about the possibility of paying for gas without violating sanctions

Russia's Gazprom has sent letters to European customers to reassure them that they can continue to pay for gas without violating sanctions. This was reported by Bloomberg, after reading such a letter. According to the publication, this is evidence that Russia is probably trying to find a way to preserve the possibility of gas supplies to Europe.

European companies are trying to figure out how they can continue to buy Russian gas after Russia demands payment in rubles, and the European Commission has said the move would violate sanctions. Poland and Bulgaria have already been disconnected, and the deadlines for payments from other countries come in mid-May.

In a letter, Gazprom told customers that a new order issued by the Kremlin on May 04, 2022, clarified the procedure set out in the initial decree on ruble payments. It is unclear whether the new order will be enough to allay fears of the European Union, which has said opening a ruble account and working with the central bank would violate sanctions.

The new order states that foreign currency received from buyers is subject to exchange for rubles through the accounts of the National Settlement Center of Russia. The letter from Gazprom says that this will ensure transparency in the movement of funds from foreign buyers and make it impossible to participate in the calculations of any "third party". The above procedure seems to exclude the central bank, which is under sanctions.