Politics

German energy firm Uniper ready to meet Russian pay demand

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Posted: 29/04/22 - 00:57
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One of Germany's biggest energy firms has said it is preparing to buy Russian gas using a payment system that critics say will undermine EU sanctions.

Uniper says it will pay in euros which will be converted into roubles, meeting a Kremlin demand for all transactions to be made in the Russian currency.

Other European energy firms are reportedly preparing to do the same amid concerns about supply cuts.

Uniper said it had no choice but said it was still abiding by EU sanctions.

"We consider a payment conversion compliant with sanctions law and the Russian decree to be possible," a spokesman told the BBC.

"For our company and for Germany as a whole, it is not possible to do without Russian gas in the short term; this would have dramatic consequences for our economy."

Germany's biggest energy supplier RWE declined to comment on how it would pay for Russian gas.

In late March, Russia said "unfriendly countries" would have to start paying for its oil and gas in roubles to prop up its currency after Western allies froze billions of dollars it held in foreign currencies overseas.

Under the decree, European importers must pay euros or dollars into an account at Gazprombank, the Swiss-based trading arm of Gazprom, and then convert this into roubles in a second account in Russia.

The European Commission said last week that if buyers of Russian gas could complete payments in euros and get confirmation of this before any conversion into roubles took place, that would not breach sanctions.

However there are different views among countries on how to interpret its initial guidance, and this week EC boss Ursula von der Leyen sparked confusion when she said firms could still be breaking the rules.

I Call Bull: No two ways about it Uniper are twisting and turning saying they aren't breaking sanctions BUT one way or the other they are still directly funding Warmonger Putins war machine. Absolutely disgraceful, Germany should be ashamed of itself.

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3 Comments
28 days
2 upvotes
Showing just how reliant we are on Russia for energy, a big lesson to be learnt from this
28 days
2 upvotes
Paint it any colour you want but this is still compliance to Russia and making a mockery of sanctions
28 days
3 upvotes
Hilarious. So whilst the EU is virtue signalling over Ukraine, Germany is literally financing the Russian war machine - you literally could not make this stuff up!