EU firms could possibly work round Russia's demand to obtain fuel funds in roubles with out breaching sanctions in the event that they pay in euros or dollars that are then transformed into the Russian forex, the European Fee mentioned on Friday.
The businesses would additionally want to hunt extra circumstances on the transactions, akin to a press release that they contemplate their contractual obligations full as soon as they've deposited the non-Russian currencies.
Moscow has warned Europe it dangers having fuel provides lower except it pays in roubles.
In March, it issued a decree proposing that vitality consumers open accounts at Gazprombank to make funds in euros or dollars, which might then be transformed to roubles.
The Fee mentioned earlier this month that the decree risked breaching EU sanctions since it will put the efficient completion of the acquisition - as soon as the funds are transformed to roubles - into the arms of the Russian authorities.
In an advisory doc despatched to member states on Thursday, nevertheless, the Fee mentioned Moscow's proposal doesn't essentially forestall a cost course of that may adjust to EU sanctions towards Russia over the Ukraine battle.
The Fee's recommendation shouldn't be legally binding, however is an try and steer the dialogue whereas member states work out how they'll proceed to pay for Russian fuel.
EU firms sticking to Gazprom contracts
Brussels mentioned within the doc that there have been choices that might enable firms to proceed lawfully paying for fuel.
"EU firms can ask their Russian counterparts to fulfil their contractual obligations in the identical method as earlier than the adoption of the decree, ie by depositing the due quantity in euros or dollars," the doc mentioned.
Nonetheless, the process for securing exemptions from the necessities of the decree shouldn't be but clear, it mentioned.
Earlier than making funds, EU operators may additionally make a transparent assertion that they contemplate their contractual obligations to be accomplished once they deposit euros or dollars with Gazprombank - versus later, after the cost is transformed into roubles, the doc mentioned.
"It will be advisable to hunt affirmation from the Russian aspect that this process is feasible underneath the foundations of the decree," the doc mentioned.
A European Fee spokesperson mentioned firms ought to stick with the forex agreed of their contracts with Gazprom - 97 per cent of that are in euros or dollars.
The EU's sanctions regime doesn't prohibit firms from opening accounts with Gazprombank, or participating with the financial institution to try to hunt an answer, the doc mentioned.
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