Greece will Pay Gazprom without Violating Sanctions against Russia

Business » ENERGY | April 28, 2022, Thursday // 15:23
Bulgaria: Greece will Pay Gazprom without Violating Sanctions against Russia Greek Prime Minister Kyriakos Mitsotakis (left) and Russian President Vladimir Putin (right)

Greece plans to pay Russia's gas supplier Gazprom next month in a way that will not violate European Union sanctions against Russia. This was stated by the Minister of Energy Kostas Skrekas.

Greece, which relies on Russian gas for more than 30% of its annual needs, has a supply contract with Gazprom that expires in 2026, Kathimerini reported. The next payment by the main Greek gas company DEPA to Gazprom for gas supplies in April should be made on May 25th, the energy minister told Greek Radio Skai, without specifying the currency in which the payment will be made. "We will pay in a way that will not violate sanctions and will guarantee our country's energy security," Skrekas said.

Gazprom offered a method of payment. This has legal, financial and political aspects. We appreciate all these aspects," he said, calling for a joint response to the issue during a meeting of EU energy ministers next week.

Under Russia's new payment system, buyers will deposit euros or dollars in a Gazprombank account that will convert them into rubles, transfer them to another account owned by the foreign buyer, and transfer the payment in Russian currency to Gazprom.

Greek government spokesman Ioannis Oikonomou said converting the euro into rubles was a technical issue.

"We have paid in euros and we will pay in euros. How they will be converted into rubles is a question that remains to be clarified. I believe that the process will become crystal clear by the end of May when we have to make the payment to Gazprom." he specified.

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Tags: Russia, gas, greece, Gazprom
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