Major German buyer of Russian gas advertises payment in rubles

Wanting to keep customers from Western Europe, Moscow took unprecedented measures to soften the procedure for paying for consumed energy resources in rubles. The recent decree of the President of the Russian Federation Vladimir Putin dated May 4 provides for a return to the actual payment scheme in euros, and the conversion of the currency into rubles becomes the responsibility of the domestic financial institution. In this case, Gazprombank.

Considering such incredibly convenient conditions, many large Gazprom customers have already decided to switch to the new scheme, if only because it is very similar to the old one. So did the largest German importer of natural gas from Russia, Verbundnetz Gas (VNG), which owns an extensive network of pipelines in East Germany and underground gas storage facilities with a volume of almost 2,5 billion cubic meters.

By positively describing its experience with settlements in rubles, the company thereby creates a positive advertisement for the service for Western traders and legal entities. She currently has an account with Gazprombank.

We hope that the conversion into rubles will not cause problems, as there were none when opening an account, everything went perfectly smoothly

– stated in the message VNG.

According to Reuters, the company's management said it would transfer the next payment for Russian gas in euros, which would then be converted into rubles in the Russian Federation in accordance with a new gas payment scheme announced by Russia in March in response to Western sanctions.

We will still pay the next payment in European currency, since the invoice issued is denominated in euros, the money will go to an account in a Russian bank. We want to pay our supplier on time

- assured the company.

Shortly after VNG's peculiar advertisement, another major consumer of Russian gas, Uniper, announced that it was preparing to pay for imported raw materials under new rules published by Moscow.

We plan to make payments in euros to an account in Russia

- a representative of the company told the German media.

The European Commission still opposes such an old-new gas payment scheme, still not realizing that it does not contradict either the sanctions legislation or the contracts of foreign buyers with Gazprom. However, it is too early for the Russian gas monopolist to rejoice, since such significant relaxations, a departure from the original rigid net payment scheme in the national currency, may be regarded in the West in a completely different way from what Moscow would like it to be.
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  1. zzdimk Offline zzdimk
    zzdimk 11 May 2022 10: 11
    Crap. I already thought that in Germany, consumers will pay for gas in rubles. Too bad it's not. (laughing)
  2. ChopChop Offline ChopChop
    ChopChop 11 May 2022 11: 04
    Moscow took unprecedented measures to ease the procedure for paying for consumed energy resources in rubles

    It means deflated or given up. But face must be saved
    1. alexey alexeyev_2 (Alexey Alekseev) 11 May 2022 11: 53
      I didn’t give up, I didn’t give up. Previously, transfers for deliveries were made through Western banks and through accounts opened there. Now these accounts are frozen. Now directly to Gazprom Bank. They just saved them from unnecessary hemorrhoids. Previously, they bought rubles from Gazprombank and paid, and now Gazprom Bank itself converts their euros into rubles.
  3. Sergey Pavlenko Offline Sergey Pavlenko
    Sergey Pavlenko (Sergey Pavlenko) 11 May 2022 13: 01
    Anyone who criticizes this way of selling our gas does not fully understand the essence of this issue. If earlier everything was bought and sold for dollars and euros, then these processes were supported by these Western currencies, but now Russia will not buy euros and dollars from anyone, but they will buy our rubles, which will greatly support the ruble. On this occasion, there is a very good article on Yandex Zen, who is interested - will find it, there the author on the fingers, using the example of ducks and shells, explains the whole essence of this process !!
  4. Muscool Offline Muscool
    Muscool (Glory) 12 May 2022 08: 36
    Did the author even try to look for information on the issue ?!
    This is the original scheme proposed by Russia. Previously, they paid for gas to Gazprom accounts in Western banks (which they could easily block), saying that we transferred money to your account, but the fact that you cannot dispose of it is your problem (sanctions), we fulfilled our obligations under the contract.
    And now they have to open an account in a Russian bank that is not controlled by them and transfer money there, then, at their request, the bank converts euros into rubles and makes payment to Gazprom. This was done FIRST of all to prevent them from blocking our money
    1. Eustace to Alex Offline Eustace to Alex
      Eustace to Alex (Dmitriy) 12 May 2022 15: 43
      Whose "ours"?