Gas payments in rubles would backfire on EU sanctions – media

 The switch to rubles for gas payments, announced earlier this week by Russian President Vladimir Putin, would force the European Union to circumvent its own anti-Russia sanctions if it wants to keep the gas flowing in, Germany’s Der Spiegel reported, citing economy experts.

According to Düsseldorf economist Jens Südekum, in order to pay for gas deliveries, Europe would have to buy rubles from the Central Bank of Russia, which earlier this month was placed on an EU sanctions list. The measure prohibits any financial transactions between the Russian financial regulator and EU.

 

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