Monday, May 23, 2022

ITALY AND GERMANY ALLOW PURCHASE OF RUSSIAN GAS IN RUBLES.

And it's such an obvious simple solution.

From EU Gives OK To Pay For Russian Gas In Rubles :

On Friday, Germany and Italy both told companies that they could open up rubles accounts in order to purchase Russian gas, in line with President Vladimir Putin’s request.

Russia’s request has companies opening up two accounts at Gazprombank; one in euros or U.S. dollars and another in rubles. Buyers would deposit the payment into one account in U.S. dollars or euros, and then it is automatically converted to rubles without the involvement of the Bank of Russia.

As of last week, 20 companies in the EU had opened accounts at Gazprombank, while another 14 had asked for the necessary paperwork to open up accounts. Germany’s VNG had already opened up an account with Gazprombank.

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