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Gas frozen in limbo

15 April 2022

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

Marcel Salikhov gave a commentary to the Kommersant FM radio station about making payments for exported gas in rubles.

Europe continues to insist on maintaining the existing terms of contracts, which is generally understandable, Marcel Salikhov, president of the Institute of Energy and Finance says: 

“Judging by the statements from the European Commission and some European countries, they rather believe that the proposed scheme is a violation of sanctions. Although it is not very clear which ones, because Gazprom and Gazprombank are not under US or EU blocking sanctions. Uncertainty is related to what has the highest priority, this is what is written in a long-term contract or Russian legislation. European countries and companies proceed from the fact that the law does not have retroactive effect.”

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