10 EU Countries Quietly Buying Gas for Rubles

10 EU Countries Quietly Buying Gas for Rubles


Ever since Moscow announced its new oil and gas payment mechanism for European energy clients, western governments have been giving mixed messages in public as to whether or not they would be complying with Moscow’s controversial new “rubles for gas” procedure. There are a two main reasons why they are reticent to advertise their intentions on this hot button issue.

The chief reason for the trepidation from the European clients is over the question of whether these new transactions fall foul of EU sanctions against Russia. Because the new Gazprom Bank payment procedure requires the client to transfer from their Gazprom euros account into its paired Gazprom rubles account, then technically speaking, the Russian Central Bank (RCB) is involved in facilitating the transaction – and the RCB is a sanctioned entity. While the European Commission had already intimated that paying for gas in rubles would be fine, subsequently confusion and bickering amongst member states and Brussels has set in, with EU head, Ursula Von Der Leyen, subsequently panicking over the prospect of EU sanctions-busting states resuming Russian gas imports.

Of course, the other reason is a political one. In the current hysterical anti-Russian climate in the West, no European government wants to be seen as resuming ‘business as usual’ in procuring their energy supplies from Russia. Certain governments, like Hungary, would prefer to be neutral on the issue of energy, with their primary focus being on securing a stable and affordable source of energy to serve their national interests.

Hence, it’s very possibly that European governments and energy providers are being extremely coy about the situation, giving the public a false impression that there is solidarity on this issue.

According to RT International, this is exactly what’s happening now…

While multiple European leaders have publicly proclaimed they won’t buy Russian gas in rubles as Russian President Vladimir Putin has demanded, 10 EU countries are technically going along with Putin’s plan, Hungarian official Gergely Gulyas told public radio on Sunday. According to Gulyas, these countries’ leaders aren’t admitting this in order to be seen as “being a good European.”

Gulyas said that Hungary has opened a euro account with Russia’s Gazprombank, which then converts payments into rubles before transferring them to suppliers in Russia. This system allows European buyers to comply with Putin’s demand, made in late March, that “unfriendly” countries switch to Russia’s national currency to buy its natural gas.

“There are nine other countries using the same payment scheme, but because today the idea of being a good European also means that the leaders of those countries are not honest when speaking either in the international arena or to their own people, the other nine countries won’t say that they are doing the same thing,” said Gulyas, who serves as Prime Minister Viktor Orban’s chief of staff.

“There should be no doubt in anyone’s mind that countries importing raw materials from Russia use exactly the same method to pay for Russian gas,” he added.

It is unclear which EU countries Guylas was referring to. Russian energy giant Gazprom has already shut off supplies to Poland and Bulgaria after both refused to pay in rubles, but a Bloomberg report last week stated, as Gulyas did, that 10 of the bloc’s member states have already set up accounts with Gazprombank, and four have actually paid for Russian gas using this mechanism.

Hungary depends on Russia for all of its gas imports, and has therefore opposed EU sanctions on this critical commodity. Gulyas reiterated this commitment to Russian energy and opposition to Brussels’ sanctions regime on Sunday.

“We mustn’t adopt sanctions with which we primarily penalize ourselves instead of those we want to sanction,” he said, referring to soaring energy costs throughout Europe. While the government in Budapest has condemned Russia’s military operation in Ukraine, Guylas said that it would “continue to buy our energy at the cheapest possible price” to offset any costs on the Hungarian people.


(TLB) published this article from 21WIRE

READ MORE UKRAINE NEWS AT: 21st Century Wire Ukraine Files


Header featured image {edited) credit: ? Rubles/Original 21WIRE article

Emphasis added by (TLB) editors



Stay tuned to …


The Liberty Beacon Project is now expanding at a near exponential rate, and for this we are grateful and excited! But we must also be practical. For 7 years we have not asked for any donations, and have built this project with our own funds as we grew. We are now experiencing ever increasing growing pains due to the large number of websites and projects we represent. So we have just installed donation buttons on our websites and ask that you consider this when you visit them. Nothing is too small. We thank you for all your support and your considerations … (TLB)


Comment Policy: As a privately owned web site, we reserve the right to remove comments that contain spam, advertising, vulgarity, threats of violence, racism, or personal/abusive attacks on other users. This also applies to trolling, the use of more than one alias, or just intentional mischief. Enforcement of this policy is at the discretion of this websites administrators. Repeat offenders may be blocked or permanently banned without prior warning.


Disclaimer: TLB websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.


Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.

Be the first to comment

Leave a Reply

Your email address will not be published.