German energy company Uniper has accepted Russia’s demands and will use the ruble conversion plan outlined by Moscow, despite concerns that it will undermine sanctions. Moscow has threatened to cut off gas supplies to Europe unless the companies meet their ruble payments. The Kremlin has partnered with Russian gas company Gazprombank to set up a system that would allow companies to deposit foreign currency in an account, while Gazprom would complete its ruble transactions. RUSSIA INVASES UKRAINE: LIVE UPDATES Uniper said on Thursday it had no choice but to use the system, and a spokesman told the BBC he was confident the deal was still in line with EU sanctions. “For our company and for Germany as a whole, it is not possible to do without Russian gas in the short term; this would have dramatic consequences for our economy,” he said. Other European energy companies have reportedly planned to follow suit and use the Russian plan. The European Commission last week informed companies that Moscow’s plan might not violate sanctions, stressing that compliance would probably be necessary to meet contractual obligations. The commission initially said the program could violate sanctions, but said this week that the proposal did not necessarily violate sanctions, Reuters reported. Biden Demands $ 33 Billion from Congress for SUPPLEMENTARY EMERGENCY FINANCING OF UKRAINE “It would be appropriate to seek confirmation from the Russian side that this procedure is possible in accordance with the rules of the decree,” the commission said in a statement, noting that companies should make clear statements that they their deposits in the originally agreed currency, which will almost all be in dollars or euros. Brussels has also said there are options that could allow companies to continue to pay legally for gas, but the process for securing exemptions is not yet clear. UKRAINE WARNS MOLDOVA-SUPPORTED RUSSIAN STRENGTHENING RECRUITMENTS Gazprom said on Wednesday it had cut off gas to the two EU nations in retaliation for unpaid energy bills for April when they refused to comply with Moscow’s demands and pay in Russian currency. “Gazprom’s announcement that it is unilaterally suspending gas supplies to customers in Europe is another attempt by Russia to use gas as a means of blackmail,” EU President Ursula von der Leyen said in a statement. “This is unjustified and unacceptable. And it shows once again Russia’s unreliability as a gas supplier,” he added. CLICK HERE TO RECEIVE THE FOX NEWS APPLICATION Von der Leyen said the EU nations were “ready for this scenario” and remained in close contact to find other means of supplying Poland and Bulgaria with their energy needs. Fox News’ Caitlin McFall contributed to this report.
