Austria opens ruble gas account

Austria will continue receiving natural gas from Russia, after OMV confirmed opening a Gazprombank account for ruble payments Read Full Article at

Austria opens ruble gas account

Austria opens ruble gas account

Vienna’s OMV insists it’s not violating EU sanctions by opening a Gazprombank account

Austria’s oil and gas conglomerate OMV said on Friday that it had opened an account with Gazprombank to pay for Russian gas imports, insisting that the scheme does not violate the current EU embargo against Moscow. Austria imports some 80% of its gas from Russia.

“We have implemented a payment process that does not violate sanctions and ensures timely payments for gas supplies,” an OMV spokesman told Reuters on Friday evening. “We consider our payment obligations fulfilled with the transfer of the amount in euros.”

“unfriendly” countries at the end of March. Countries that imposed sanctions against Russia have to set up accounts with Gazprombank, where the payments in the currency of their choice will be converted to rubles for the final payment. As of May 12, a total of 20 European companies have opened such accounts.

Poland, the Netherlands, Denmark, Bulgaria, the UK, Slovenia, and the Baltic states are among the countries that have publicly refused the new payment mechanism. Russia will not supply free natural gas to countries that refuse to honor the new payment mechanism, Kremlin spokesperson Dmitry Peskov said on Friday.

“Obviously, no one will supply anything to anyone for free,” Peskov told reporters.

“Austria is 80% dependent on Russian gas. As painful as it is, a gas embargo is currently not possible for us, just as it is for some other countries. The essence of sanctions is to let us last longer than [Russian President] Vladimir Putin, and we cannot do that without gas,” energy minister Leonore Gewessler said in an interview last month.

recording the highest inflation in 40 years as of April 2022.