European Companies Made Payments in Rubles in Fears of Supply Cutoff

Four European gas buyers have made payment for gas supplies in rubles according to Bloomberg citing a person close to Russian gas giant Gazprom PJSC.

Even if the other buyers reject the Kremlin’s terms, more cutoffs after the halt in gas flows to Poland and Bulgaria Wednesday aren’t likely until the second half of May when the next payments are due, the person said, speaking on condition of anonymity to discuss confidential matters.

Meanwhile, ten European companies have already opened account at Gazprombank which is needed to make Russian payment demands.
Earlier supplies to Poland Bulgaria were cut off after they refused to make supply payments in ruble.