Greece Intends To Pay Gazprom For Gas Supply Sans Breach Of EU's Sanctions Against Russia

Greece intends to import Russian gas from Gazprom and paying in a way that will not breach the sanctions imposed against Moscow by the European Union.


Greece intends to import Russian gas from Gazprom and paying from next month in a way that will not breach the sanctions imposed against Moscow by the European Union. The development has been confirmed by the Greek Minister of Energy Kostas Skrekas.

Notably, Greece depends on Russian gas for over 30% of its annual requirement and has an agreement with Gazprom that will end in 2026, Novisiti reported.

The issue of paying for Russian gas started as President Vladimir Putin in March announced that "unfriendly countries" need to pay for importing Moscow's gas in rubles.

Kostas Skrekas stated that Greek gas company DEPA is due to make a payment to Gazprom for gas supplies will be made on May 25.

Even though Skrekas did not reveal the currency in which the Greek gas firm will pay to the Russian energy giant Gazprom, he stressed that they will pay in a way that will not "violate" the EU sanctions and "will guarantee the country's energy security.

" Skrekas stated that Gazprom had told them about a way of paying for gas and added that it has "legal, financial and political aspects," as per the Novisiti report.

He called for a joint response to the Energy situation during the meeting of EU energy ministers due to take place on May 2.

As per Russia's new payment system, importers will deposit euros or dollars in a Gazprombank account which will convert the currency into rubles and transfer it to another account owned by the foreign buyer and the amount will then be transferred again and Gazprom will receive the payment in Russian rubles.


France to host EU Energy Ministers meeting

Meanwhile, France will host a meeting of European Union energy ministers on May 2 to discuss the energy situation.

The decision to hold the meeting of EU Energy ministers comes after the Russian energy giant halted gas supply to Poland and Bulgaria.

The announcement regarding the meeting was made by the French Presidency of the Council of the European Union in a tweet.

Barbara Pompili, Minister for the Ecological Transition of France, asserted that Europe continues to remain united even after Russia stopped supplying gas to Poland and Bulgaria.

It is to mention here that Russian energy giant Gazprom suspended the gas supplies to Bulgaria’s Bulgargaz and Poland’s PGNiG as they did not make the payments in Russian rubles.

In response to Gazprom's announcement, European Commission President Ursula Von der Leyen called the suspension of gas to Poland and Bulgaria "an attempt by Russia to blackmail" them.

Ursula von der Leyen stressed that the decision shows Moscow's "unreliability" as a gas supplier and called Gazprom's move "unjustified and unacceptable."