Russian Gas for Europe: What Is Changing?
Reacting to the sanctions war unleashed by the West, Russia announced new payment terms for its gas. Customers should open an account with Gazprombank in Russia.
Payments are made in foreign currency – dollars or euros, converted into rubles according to the current exchange rate, and transferred to different Gazprom accounts.
That’s in stark contrast to what the United States was forcing the Europeans to do: pay for Russian gas in Gazprom accounts in Europe, which would then be instantly frozen.
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