Gas shipments: Putin reassures Schultz on euro payments

Government spokesman Stephen Hebestreet, in a phone call on Wednesday, explained that Putin had said that from April 1, gas shipments would have to be paid in rubles. “At the same time, he emphasized in the conversation that nothing would change for the European contracting partners.”

Payments to Gazprom Bank

Therefore, payments in euros should continue to be transferred exclusively to Gazprom Bank, which is not affected by the sanctions. “The bank then converts the money into rubles,” Hebstreet quoted the Russian head of state as saying. Putin announced last week that in the future only the ruble will be accepted as payment for the delivery of gas to “unfriendly” countries. This includes all countries of the European Union. The G7 countries, among others, rejected the declaration as “unacceptable” and called on their companies not to comply with the Russian demand.

Hepstreet explained that Schultz did not agree with the procedure that Putin has now explained. The consultant “only requested written information in order to understand the procedure more accurately.” The application of the G7 agreement continues: “Energy shipments are paid exclusively in euros or dollars. As stipulated in the contracts.”

And Kremlin spokesman Dmitry Peskov had announced earlier that the transition to the payment system would only take place gradually. The Russian government, the country’s central bank, which is under Western sanctions, and the Russian energy giant Gazprom want Thursday to present their plans to implement the measure.