It was updated on April 28, 2022.
The European Union criticized Russia's decision to shut off gas supplies to Poland and Bulgaria as "blackmail", and it was reported on Thursday that Italian energy firm Eni is preparing to set up an account in Gazprombank to make ruble payments for Russian gas.
There are pipes at the gas transmission point.
The decision to open a ruble account with a Russian bank is a precautionary measure, which could allow it to comply with Russian President Putin.
According to the report, companies in Europe are seeking more direction from European Union authorities on the issue, but another major purchaser of Russian gas, Germany's Uniper, believes it can continue to purchase Russian gas without breaking any rules.
EU nations and the European Commission President Ursula von der Leyen accused Russia of using fossil fuels.
Von der Leyen warned European companies against bending to Russia's payment demands, noting that it would be a violation of sanctions and pose a risk to the companies.
Several member nations have asked for more clarity from the EU on how to deal with Russia's demand to pay in rubles, believing that the current advice is too ambiguous.
Poland and Bulgaria have told the EU that they have alternative supply arrangements in place.
Forbes reached out to the company.
It comes as no surprise that the Kremlin uses fossil fuels to try to blackmail us, said von der Leyen in a statement. The era of Russian fossil fuels in Europe will end.
On Wednesday, Russian energy giant Gazprom shut down all gas supplies to Poland and Bulgaria after the two nations failed to pay for the gas in rubles, as per the Kremlin's demands. In its statement announcing the disconnection of supply, Gazprom said it had not received any payments from Poland and Bulgaria. If Poland or Bulgaria use supplies meant for other nations, the Russian company will cut off supplies further. The European union promised to respond in a coordinated manner.
Russia has cut gas supplies to Poland and Bulgaria.
As EU's unity starts to Fray, Eni moves to open Ruble Accounts.
The EU told gas companies not to go to Russia.
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