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.