German Energy Giant To Pay For Russian Gas In Rubles

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Assessment: The nation with oil wins again …

  • Uniper set to pay for Russian gas imports in Rubles.
  • Uniper’s move comes despite calls from the European Commission to EU energy buyers to not pay for Russian gas in rubles.

Germany’s power utility Uniper—one of Germany’s largest gas importers—will pay for Russian gas deliveries in rubles in accordance with the new payment procedure announced by Russia last month.

“The plan is to make our payments in euros to an account in Russia,” a company spokesperson told German media, as cited by Reuters.

Per the procedure, any buyer of Russian gas from any unfriendly country needs to open two accounts in Gazprombank: one in the foreign currency it wants to pay in and one in rubles.

“This is what the Sovereign Lord says: I am against you, Gog, chief prince of[a] Meshek and Tubal.” Ezekiel 39:1

Uniper United: Bringing together what belongs together

When a gas payment is due, the buyer deposits the necessary sum in dollars or euros in its first Gazprombank account. The bank then converts the sum into rubles under Russian central bank exchange rates and deposits it in the second account, from which the actual payment is made.

Uniper said earlier this week it was prepared to begin paying in rubles for Russian gas, soon after Gazprom informed Poland and Bulgaria that it would suspend gas deliveries to them following their refusal to pay for the gas in rubles.

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