Putin lifts requirement for foreigners to pay for gas via Gazprombank
Photo: Russian President Vladimir Putin (Getty Images)
Russian President Vladimir Putin has lifted the requirement for foreign companies to pay for Russian gas exclusively through Gazprombank. The decision follows new US sanctions, according to Radio Free Europe/Radio Liberty.
According to the agency, this decision became known from Putin's updated decree of March 31, 2022, which governs the special procedure for gas payments by foreign companies. The revised rule will remain in effect until sanctions against Gazprombank are lifted.
The decree provides for two options for mutual settlements: payments in rubles credited by an authorized bank, received from third parties on behalf of foreign companies paying for Russian gas; fulfillment of gas payment obligations through "offsetting mutual claims" between the Russian supplier and the foreign buyer, initiated by the supplier.
The fulfillment of gas payment obligations through "offsetting mutual claims" between the Russian supplier and the foreign buyer, initiated by the supplier.
The offsetting claims may involve non-cash settlements or the clearing of equivalent mutual payment obligations.
Sanctions against Russia
On Thursday, November 21, the US expanded its sanctions list against Russia. Gazprombank, BCS Bank, CentroCredit Bank, and around 40 other entities were added to the list.
Subsequently, Hungary criticized the US sanctions on Gazprombank, calling them an attack on sovereignty. It was later reported that following the sanctions, Gazprombank cards were no longer accepted even in countries considered friendly to Russia.
