For several weeks, Russia has required countries and companies wishing to buy Russian gas to open an account with Gazprombank. This allows them to pay for gasoline in rubles. This requirement applies to what Russia calls “hostile countries”. This includes all countries of the European Union.
Cheating with exchange rates
According to analysts, Russia wants to take control of the transactions. In addition, there are fears that Russia is cheating with exchange rates. Putin also hopes to increase the value of the ruble, as it has suffered greatly from global sanctions imposed since the Russian invasion of Ukraine.
The complication is that European sanctions prohibit him from doing business with many Russian companies, including Gazprombank. A few weeks ago, Energy Minister Rob Jetten announced that Dutch companies were prohibited from paying in rubles.
Dutch energy company Eneco announced this evening that deliveries to the Netherlands are not in immediate danger, as a contract has been signed which is valid until 2030.
Poland and Bulgaria closed
The Polish oil and gas company PGNiG was the first to be notified by Gazprom. PGNiG says that with the measure, Gazprom violates the agreements of the contract.
This evening, Bulgaria also reported, through the state gas company Bulgargaz, that Russia had introduced the same measure against that country.
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