[/b][b]Proposal allows opening accounts in Gazprombank, as Moscow has requested, report claims

The European Commission has reportedly agreed on a plan that would allow companies to keep buying Russian gas without violating sanctions imposed on Moscow over its military attack on Ukraine.

Bloomberg reported on Saturday – citing sources said to be familiar with the results of a private meeting of the EU executive branch – that the new guidance will require companies to clearly state that they consider their obligations fulfilled once payment in euros or in dollars is complete.

At the same time, the proposal does not prevent the companies from opening euro or dollar accounts in Gazprombank, as Moscow has requested.

In March, Russian President Vladimir Putin demanded that 'unfriendly' countries pay for Russian gas in rubles. To comply, they are requested to open accounts at Gazprombank and make payments in euros or dollars that would then be converted into Russia's own currency.

Putin also warned that failure to comply with the new system would mean that affected countries risked losing gas supplies.

“The EU’s executive arm stopped short of saying whether also having an account in rubles – a step included in the Russian decree – was in line with EU regulations,” the news agency reported, noting that previously EU officials had indicated, “though never in writing,” that opening ruble accounts would violate sanctions.

Several international companies have payment deadlines this month. If they refuse to comply with Moscow’s requests, certain gas supplies can be cut off, as happened with Bulgaria and Poland last month. Some countries are already preparing for such a scenario.

Ok

Bloomberg