Economy

Germany Approves Russian Mechanism for Gas Purchase

Germany Approves Russian Mechanism for Gas Purchase

German media reported today, Thursday, citing a spokesperson for Uniper, the largest importer of Russian gas to Germany, that it will continue to purchase Russian gas according to the mechanism proposed by Moscow. The Rheinische Post quoted the Uniper spokesperson as saying that payments for Russian gas will be transferred to a Russian bank rather than a European one. According to the spokesperson, Uniper will convert payments in euros to an account in a Russian bank.

Earlier, on Wednesday, the company suggested the possibility of paying for Russian gas in Russian currency, the ruble, and indicated that it is continuing discussions on this matter with the Russian energy company Gazprom. Uniper's Chief Financial Officer, Tina Tomila, stated during a conference call that the company is in ongoing discussions with Gazprom regarding the payment issue for Russian gas in rubles. She added: "So far, the flow of Russian gas under our current long-term contract remains unchanged. We are in discussions with Gazprom regarding the implementation of the Russian decree on payment in rubles."

It should be noted that Gazprom announced yesterday, Wednesday, the complete halt of gas supplies to Bulgaria and Poland after they refused to pay in rubles, warning both countries against any illegal siphoning of Russian gas passing through their territories to other countries.

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