Gazprom's method of paying for gas in rubles violates sanctions - a new statement from the European Commission

The European Commission's position on Gazprom's new method of payment for natural gas remains unchanged, said Tim McPhee, a spokesman for the European Commission on Climate and Energy. As long as this method involves the central bank of the Russian Federation, it will violate sanctions, as the central bank of the Russian Federation is subject to European sanctions.

The commission also noted that they are closely monitoring the situation and analyzing Gazprom's reports and letters. Natural gas prices in Europe continue to rise amid this news, soaring up to 111.00 €/MWh, or by 17.5% more the prices quoted a day before. When transferring the price into $, it exceeds 1 200.00 $/tcm.

17:35 / 12 May 2022

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