Eni to open ruble account as EU eases gas stance

Eni will move to open accounts in rubles and euros with Gazprombank by Wednesday in order to make payments on time this month and avoid any risks to gas supplies, Bloomberg reports,.

 

EU officials had said, although only verbally, companies opening ruble accounts would breach sanctions, but the latest guidelines, expected to be published this week, reportedly will not ban ruble accounts and will offer a roadmap to keep buying Russian gas.

 

According to the report, Eni is only waiting for the guidelines to be formally published before acting, according to the report.

 

The European Union said companies can keep buying gas without breaching sanctions, as it softened its stance in a standoff with Moscow over energy supplies.

 

The European Commission sent its revised guidelines to member states on Friday, a spokesperson said on Monday. In the updated recommendations, it said companies should make a clear statement that they consider their obligations fulfilled once they pay in euros or dollars.