Independent news has never been so important.

Did you know that you can get Democracy Now! delivered to your inbox every day? Sign up for our Daily News Digest today! Don't worry, we'll never share or sell your information.

EU Energy Minister Rejects Russia’s Rubles-for-Fuel Scheme

HeadlineMay 03, 2022

The European Union’s top energy official has rejected a scheme by foreign companies to convert their payments for Russian oil and gas into rubles. EU Energy Commissioner Kadri Simson said Monday the arrangement violates European Union sanctions imposed after Russia’s invasion of Ukraine.

Kadri Simson: “Paying rubles through the conversion mechanism managed by the Russian public authorities and a second dedicated account in Gazprombank is a violation of the sanctions and cannot be accepted.”

In Berlin, two government ministers said Monday Germany was prepared to reverse its opposition to a ban on Russian oil and is prepared to suffer the economic shock of an EU oil embargo. Germany continues to import about a quarter of the oil it consumes — and more than a third of its natural gas — from Russia. 

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation