EU and UK to Meet Russia’s Demand to Pay for Gas in Rubles

Amid sanctions imposed by London on Gazprom, the British Treasury has issued a temporary waiver allowing British companies to transfer funds to Russia’s Gazprombank to pay for gas. UK firms will be able to meet Moscow’s new demand to pay for gas in rubles through the waiver of sanctions, which will last until May 31.

Similarly, the decree also followed the decision of Western governments to illegally freeze the foreign currency assets of the Central Bank of Russia held in their countries. Moscow recently promised to take those governments to court over the measure to fight for the freeing up of the funds.