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European Energy Companies Agree to Pay for Russian Gas in Rubles

HeadlineApr 29, 2022

The German and Austrian energy companies Uniper and OMV say they’ve agreed to Russia’s demands that purchasers of Russian oil and gas open accounts in a Russian bank and pay in rubles. The Italian energy giant Eni is also reportedly in talks to make ruble payments for Russian gas. Earlier this week, the EU accused Russia of “blackmail” after it shut off gas supplies to Poland and Bulgaria, which had refused to pay in rubles. The Russian state-controlled firm Gazprom continues to supply Europe with about 40% of the natural gas it consumes.

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