Oil company ENI opened an account in rubles and another in euros with Gazprombank to buy Russian energy.
Opening an account in rubles does not violate European Union sanctions on Moscow, the company guarantees, but the European Commission understands otherwise.
30% of ENI's capital belongs to Italian government.
Last week, Prime Minister Mario Draghi had stated that it would be possible for European companies to be able to purchase Russian products and energy sources without this constituting non-compliance with the import ban announced by the European Commission at the beginning of May.
According to a statement from the company itself, the ENI has already started the process of opening two current accounts at Gazprombank, the financial arm of the Russian state oil company Gazprom, one in rubles and the other in euros, “as a precaution”, explains the company, which adds that the deadline for fulfilling obligations contractual deadlines are approaching.
ENI emphasizes that the opening of the accounts comes after Gazprom unilaterally requested “to amend the existing contracts between the parties, in accordance with the new gas payment procedure established by the Russian Federation”. The company says it opposes the changes made by Gazprom, but that it would open the accounts on a temporary basis, “without prejudice to its contractual rights, which continue to provide for payment in euros”.
According to Bloomberg, around 20 European companies are in these conditions, that is, opening accounts in rubles to accommodate payment requirements implemented by the government of Vladimir Putin for the purchase of oil and liquefied natural gas.
