OMVJF - Half of Gazprom's foreign clients opened ruble accounts Russia says

Some of Europe's biggest natural gas utilities have agreed to new payment terms with Russia's Gazprom (OTCPK:OGZPY), Russian Deputy Prime Minister Alexander Novak said on Thursday, defusing the threat of a sharp cutoff of Russian gas to the region after Vladimir Putin demanded to be paid in rubles. Novak said around half of Gazprom's (OTCPK:OGZPY) 54 clients have opened ruble accounts at Gazprombank, the finance arm of the Russian gas producer, according to The Wall Street Journal. The Kremlin required European gas buyers to open two accounts, one in euros (or the currency stipulated in the contract) and the other in rubles, at Gazprombank, with buyers depositing funds into the euro account that are then converted into rubles by Gazprombank and automatically withdrawn for payment. Some European Union officials had warned that a European company opening a ruble account would violate sanctions imposed after Russia's invasion of Ukraine, but Paolo

For further details see:

Half of Gazprom's foreign clients opened ruble accounts, Russia says