Some of Europe’s largest energy companies are making arrangements to comply with a new payment system for Russian gas sought by the Kremlin, in moves critics say will undercut EU sanctions, threaten EU unity and deliver billions in critical cash to Russia’s economy.
Gas distributors in Germany, Austria, Hungary and Slovakia — including two of the single largest importers of Russian gas, Düsseldorf-based Uniper and Vienna-based OMV — are preparing to open rouble accounts at Gazprombank in Switzerland, according to people with knowledge of the preparations.
Negotiations between utilities and Gazprom, the Russian state-controlled gas supplier, have intensified as payment deadlines approach, they said.
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