Italian companies should be allowed to buy gas in rubles – ‘green’ minister

Italy’s ecological transition minister has said that Italian importers should comply with Russia’s demand to buy gas in rubles Read Full Article at RT.com

Italian companies should be allowed to buy gas in rubles – ‘green’ minister
2 May, 2022 21:58 HomeWorld News

Italian companies should be allowed to buy gas in rubles – ‘green’ minister

Ecology Minister Roberto Cingolani’s comments come as 10 EU countries are reportedly prepared to buy gas in Russian currency

Italian Minister of Ecological Transition Roberto Cingolani told Politico on Monday that Italian companies should “go ahead and pay in rubles” for Russian gas, as Moscow has demanded. Although his ministry later said that it does not back such a move, 10 EU nations are reportedly planning to do the same.

“I think it would be good for a few months, at least, to allow companies to go ahead and pay in rubles, while we understand the legal framework and implications,” Cingolani said, adding that he wants “a speedy and very clear pronouncement from the European Commission” on whether such an arrangement would breach EU sanctions.

“has never been open to a payment in rubles.”

“cannot risk” paying and breaking sanctions, they also “cannot risk … not paying” until recently-signed gas contracts with African countries come into effect.

“unfriendly” countries – those that back sanctions imposed in the wake of Russia’s military offensive in Ukraine – would have to pay for gas in Russia’s national currency. Poland and Bulgaria have already been cut off after they refused this demand.

“final transaction,” while Russian suppliers would consider the deal done upon receipt of rubles.

“In this process there are gray areas, which could constitute a breach of sanctions. However you do it, there is a problem,” he stated.

“issue more detailed guidance on what companies can and cannot do within our sanctions framework” soon.