10 min ago
France and Germany refuse to pay for Russian gas in rubles
From Inke Kappeler in Berlin
German Economy and Climate Protection Minister Robert Habeck, left, listens as French Minister of Economy and Finance Bruno Le Maire speaks during a news conference in Berlin on Thursday. (Sean Gallup/Getty Images)
German and French economic ministers said Thursday that they were committed to existing agreements with Russia on making the payments for Russian gas supplies only in euros.
“The contracts are in euros and must be paid in euros and will be paid in euros,” French Minister of Economy and Finance Bruno Le Maire said during a joint news conference with his German counterpart Robert Habeck.
“We will not accept the method of payment for [Russian] gas in any other currency than stated in the contract,” Le Maire added.
Russian President Vladimir Putin said Thursday that according to a newly signed decree regarding
natural gas trading with “unfriendly countries,” companies will need to have accounts in Russian banks and pay for contracts in rubles.
At a separate news conference Thursday, Habeck said that Germany is “prepared” for all scenarios, including a stoppage of Russian gas flows to Europe, while Le Maire said France is “preparing” in case Russia cuts off gas deliveries.
German Chancellor Olaf Scholz also insisted Thursday that Berlin will make payments for Russian gas only in euros.
“It is a terrible feeling to be dependent on Russian energy at the moment,” the Austrian chancellor said.
“We must secure energy supplies to make sure that the economy functions, because the gas coming from Russia is not only being used for private households but also by industries where jobs are concerned, and prosperity must be maintained,” Nehammer said.
16 min ago
Russian bank appointed to open accounts in rubles for gas buyers from "unfriendly countries," state media says
From CNN's Chris Liakos
Gazprombank has been appointed as an authorized bank that will open special accounts in rubles for gas buyers from "unfriendly countries" and will sell currency for conversion into rubles for gas payment at Moscow Exchange auctions, Russian state news agency TASS reported Thursday.
Russian President Vladimir Putin announced Thursday that according to a newly signed decree regarding
natural gas trading with "unfriendly countries," companies will need to open ruble accounts in Russian banks, and payments should come from these accounts.
Putin made the comments during a virtual meeting that he was chairing to discuss measures to support Russian airlines hit by Western sanctions.
According to TASS, the Bank of Russia must determine within 10 days the procedure for opening special currency accounts for foreign gas buyers.
“In a situation when the financial systems of Western countries are weaponized and companies from these countries refuse to perform their contracts with Russian banks, companies and individuals, and when assets in dollars and euros are frozen, there is no point using the currencies of these countries,” Putin said earlier during his speech.
These actions will strengthen Russia’s financial sovereignty, Putin said.
“We shall continue to steadily and systemically move in this direction as part of a long-term plan,” he said.