FROM THE FRANCE NEWS FEED: The European Commission has explained how EU companies can pay for Russian gas without breaching the bloc’s sanctions against Russia, in an updated guidance on the issue seen by Reuters.
The Commission told countries last month that European companies may be able to pay for Russian gas but only if they followed certain conditions, after Russia demanded foreign buyers start paying for gas in roubles or risk losing their supply.
In updated guidance, shared with EU countries on Friday, the Commission confirmed its previous advice that EU sanctions do not prevent companies from opening an account at a designated bank, and companies can pay for Russian gas – so long as they do so in the currency agreed in their existing contracts and declare the transaction completed when that currency is paid.
Nearly all of the supply contracts EU companies have with Russian gas giant Gazprom are in euros or dollars.
All this twisting and turning with the words, just to keep from saying ‘we have no choice but to buy Russian gas.’
But that’s all. After this, we’re totally serious about not buying anything from Russia!