Europe is ready to pay for Russian gas in rubles

The countries of the Old World are trying to cope with the shortage of energy resources

The EU members confirmed the possibility of paying for the supply of “blue fuel” from our country in Russian currency. Thus, the states of the continent actually agreed with the ultimatum of Vladimir Putin, who shifted the Western coalition to re-register the payment for hydrocarbon supplies into rubles. True, the recalculation system will turn out to be quite cunning: money for the export of energy resources will go to special accounts that allow the supplier to purchase specific, but far from needed products.


Paying for Russian gas in rubles is a violation of EU sanctions. This decision, according to Reuters, was made by the European Commission. True, at the same time, the top representatives of the diplomacy of the Old World made a reservation: gas deals with Russia do not exclude a scheme of transactions by which buyers will be able to pay for energy resources in dollars or euros to the accounts of Russian financial organizations “for subsequent conversion into rubles under existing contracts.”

In other words, European consumers of Russian energy resources have secured a legal cut blanche for themselves: on the one hand, most Western countries, coupled with the fifth package of anti-Russian sanctions, cannot afford to pay for gas imports from our country, which provides from 30% to 100% of the fuel consumption of the countries of the Old World , directly in rubles; on the other hand, the Europeans allowed themselves conditional disregard for this ultimatum.

For understanding, it is necessary to explain that after the start of Russia's special operation in Ukraine and the imposition of additional sanctions against our country by the West, including the freezing of Western accounts of Russian state banks, President Vladimir Putin demanded that foreign contractors pay for the supply of energy resources, oil and gas, in rubles. Such castling should help support the national currency and slow down domestic inflation.

“At first, the transition to rubles in payments for Russian gas exports was categorically not approved by the governments of the countries of the Old World. Then some states, such as Serbia and Slovakia, offered to find a compromise. Despite the loud statements of European officials, the transition to a new financial scheme is quite possible. The European energy ball is mainly run not by political demagogues, but by large commercial organizations interested in the ultimate profit. No one is going to wait for the final completion of political disagreements between Russian suppliers and Western officials: it is beneficial for both parties to purchase Russian pipeline raw materials,” said Sergey Severov, investment strategist at Arikapital Management Company.

At the same time, as stressed by the financial expert Mikhail Belyaev, the transfer of funds for the supply of energy resources to formal bank accounts is fraught with new restrictions. “Europe will not allow paying with “fuel” money the requests of the Russian industry for new, modern technologies, software, components for the automotive industry. The choice for imports from Russia may be limited to the “formal office”, which is far from being in the first place in demand in the ordinary life of Russians. Russia will have to import jeans and sneakers for oil and gas billions, which Europeans can resell through Asian manufacturers. Russia needs to achieve a shift in real imports, and correspondent accounts, which will have billions of dollars that cannot be spent on economic development, will again turn out to be ballast, ”the MK interlocutor believes.


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