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Slovakia’s SPP paid for Russian gas in euros, opened rouble account -Breaking

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© Reuters.

(Reuters) – Slovak State Gas Importer SPP paid a Russian bill in Euros and opened a rouble account at Gazprombank. This was according to Richard Prokypcak, the CEO of SPP.

The European Union’s Executive said this week that member states can continue buying Russian gas, without violating the sanctions against Russia following its invasion in Ukraine.

“We have fulfilled our Gazprom obligation in Euros (MCX Prokypcak claimed in an interview to Slovak public TV RTVS. He stated that this payment had been made May 17.

It is also in euros because Gazprom issued the bill in euros. Prokypcak stated that money was transferred to Gazprom accounts and that he has received confirmation of receipt.

He said, “Monetary transformation is underway. This will be completed by handing Gazprom roubles, and natural gas supplies for the future continue.”

Although the European Commission recommended that companies avoid opening accounts in Gazprombank roubles as Gazprombank requested, they have not stated explicitly in their written guidance whether this would be a violation of sanctions.

Russian gas payments have been a major problem since Moscow required that all foreign buyers pay in Russian roubles. Russia then cut off supplies to Poland, Bulgaria and other countries for not complying.

Prokypcak declared that “the foreign exchange conversion is not within the purview of SPP. For us, the most important moment in fulfilling our promise is the europayment.”

The role of SPP’s Rouble Account in this transaction was unclear. SPP spokesmen were not available immediately to answer questions.

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