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Report that Italy is open to paying for Russian gas in roubles misleading

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Italy’s Ecology Transition Ministry denied Monday a media report that it was open to paying Russian gas with roubles.

Moscow stated that foreign gas buyers should deposit dollars or euros into an account at Gazprombank (a privately-owned Russian bank), which will convert them into rubles.

Last month, the EU Commission warned countries that Russia's scheme could be a violation of EU sanctions.

It was reported Monday that Roberto Cingolani, Italy's Ecology Transition minister, said that European energy companies should be temporarily allowed to comply with Russian demands for gas in rubles.

The ministry noted that the article was misleading and didn't correspond to Cingolani's position.

The ministry stated that while the EU is still waiting to adopt a common position on the payment position, the current euro/roubles scheme which would see companies paying in euros does not appear to violate the sanctions of February 24.

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