Germany & Italy allow companies to open ruble accounts for Russian gas payments

Amid row over European Union's plan to impose sanctions on Russian oil and gas, some countries which are highly dependent on Russian energy resources, are exploring ways to purchase oil from Moscow. In latest development, Euractiv reported that Germany and Italy have allowed companies to open ruble accounts to pay for Russian gas and oil. Its main aim is to allow companies to continue buying Russian gas without breaching EU sanctions. Surprisingly, as per report, decision was taken after consulting with senior members of European Union.

Meanwhile, Poland, Bulgaria and Finland have clarified y will t allow such changes in ir territory. Currently, as bloc is forming a ro map to minimise its dependency on Russian gas, Brussels has given two sets of written recommendations to companies on ways to buy Russian energy "without breaching sanctions". However, legal route remains unclear.
Last week, Italian Prime Minister Mario Draghi said 27 member bloc has to create clear compliance on wher capitulating to Russia’s payment scheme would breach sanctions, with official ruling on matter. On or hand, Poland has demanded clearer guidance from Brussels on wher companies can open ruble accounts.

Russia says 'Won't eng in charity'

It is worth mentioning latest development came nearly a month after Moscow, in strong remarks, conveyed, "it won’t eng in charity if Europe refuses to pay in Russian currency." It means Moscow will w renew gas contract to force unfriendly countries to pay in Russian currency i.e in ruble. However, at that time, Moscow remained tight-lipped on furr course of action if major consumer countries refused to pay in Russian currency.

Meanwhile, G7-- an inter-governmental political forum consisting of Cana, France, Germany, Italy, Japan, United Kingdom, and United States -- held a video conference over Russia's demand and said it would t here to demand. At that time, German energy minister Robert Habeck also denied compliance with Russia's order. “Payment in ruble is t acceptable, and we will urge companies affected t to follow (Russian President Vlimir) Putin’s demand," Habeck h told reporters. 

Im: AP