Ruble accounts in Gazprombank violates sanctions, - the European Commission

The European Commission has said that opening bank accounts in rubles at Russia's Gazprombank violates sanctions against Russia imposed after Russia's invasion of Ukraine in late February 2022. This was reported by Bloomberg.

The European Commission has said that companies can open $ or € accounts with Gazprombank, and declare that they consider their obligations fulfilled after paying in $ or €. However, the opening of ruble accounts "goes beyond the recommendations recently given to EU member states," said Commission's Spokesman Eric Mamer.

"Anything that goes beyond opening an account in the currency of the contract with Gazprombank and making a payment in this regard, and then issuing a statement that you believe that this payment is completed, is contrary to sanctions," Mamer said.

18:50 / 17 May 2022

Upcoming events
09:00 / 23 September, 2021
09:00 / 20 May, 2021
08:00 / 26 September, 2019
ODESA OFFSHORE CONFERENCE-2019 Ukraine has every chance to resume the work of the most promising oil and gas region, the Southern oil&gas fields. The untapped deposits of oil and gas are located both onshore and subsea. Four companies have already poised to conclude Production Sharing Agreements with Ukraine, whilst bidding for the Dolphin oil&gas fields on Black Sea shelf. The Odesa Offshore Conference (OOC2019) will serve as a venue for Ukrainian and international bidders to meet with local and international drilling, oilfield service and equipment manufacturers to kick-off emerging subsea and onshore projects in Ukraine.
All events