Dutch authorities ban companies from paying for gas in rubles

The European Commission considers paying for gas in rubles a violation of sanctions. The Ministry of Economy of the Netherlands reported that they were ready to stop supplies, but noted that

The Dutch government has instructed energy companies to refuse new conditions for the purchase of Russian gas, BLOOMBERG reports citing a representative of the country's Ministry of Economy.

He explained that in Amsterdam they agreed with the verdict of the European Commission that the transfer of payments to Gazprom in rubles would be a violation of the sanctions. “This means that Dutch companies are not allowed to agree to these terms,” a spokesman said.

The economy ministry also said the kingdom had prepared for a complete shutdown of gas supplies over the past two months by doubling its capacity to import LNG. The country is also running a campaign to save energy.

The representative of the Dutch ministry also noted that it will be difficult for the country to fill the storage facilities before next winter without supplies from RUSSIA.

Peskov warned the EU countries with the words "no payment - no gas" Economics

Bloomberg notes that the Dutch GasTerra has a contract with Gazprom until October this year, and another company Eneco buys fuel from the German Wingas GmBH, which is part of Gazprom Germania (Gazprom stopped participating in it on April 1). In the first half of 2021, Gazprom supplied the Netherlands with 4.2 bcm. m of gas, the agency said. The Netherlands also buys Russian liquefied natural gas, the payment for which has not been converted into rubles. In total, Russia accounts for 20% of the gas imported by the Netherlands.

According to Gazprom, in 2020 the kingdom became one of the largest European buyers of Russian gas, importing 11.8 billion cubic meters. m.

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Earlier, the European Commission warned the EU countries that paying for gas in rubles would be a violation of sanctions. She presented a legal analysis, according to which the new mechanism will allow Russia to gain full control over transactions through the Central Bank. Restrictions against Russia will also be violated. Previously, the EU indicated that the terms of contracts under which payment for fuel is made in euros or dollars must be observed.

Putin instructed to prepare the market for the transition to settlements in national currencies Economics

President Vladimir Putin , by his decree at the end of March, converted payments for natural gas for unfriendly countries into rubles. He explained that Western currencies had compromised themselves. Under the new rules, Western companies must open currency and ruble accounts with Gazprombank. The European buyer will transfer money to a foreign currency account, and then the bank will sell the currency on the stock exchange and credit the money to the ruble account. Only then will payment be considered valid.

On April 14, Putin said that banks from unfriendly countries were delaying the transfer of payments for energy, which led to failures in payment for EXPORT deliveries.