European Union gives companies green light to keep Russian gas flowing

The European Union said gas importers in the bloc could continue paying for Russian fuel without breaking sanctions imposed on Moscow.

The European Commission sent its revised guidelines to member states on Friday, a spokesperson said on Monday. In the updated recommendations, it also said companies should make a clear statement that they consider their obligations fulfilled once they pay in euros or dollars.

EU sanctions “do not prevent economic operators from opening a bank account in a designated bank for payments due under contracts for the supply of natural gas in a gaseous state, in the currency specified in those contracts,” the commission said. “Operators should make a clear statement that they intend to fulfil their obligations under existing contracts and consider their contractual obligations regarding the payment already fulfilled by paying in euros or dollars, in line with the existing contracts.” 

The guidance does not prevent companies from opening an account at Gazprombank.