MOSCOW, September 22. /TASS/. Russian President Vladimir Putin has decreed that through the end of this year, foreign buyers of Russian gas can pay for supplies in rubles not only through authorized intermediary Gazprombank, but also through other Russian banks. The decree takes effect on Monday, September 22.
The previous authorization was set to expire on October 1, 2025. The payment procedure for foreign buyers of Russian gas was updated in the wake of US sanctions being imposed against Gazprombank. Earlier, foreigners could only convert currency at other Russian banks, but were then still required to transfer the rubles they received to the Russian gas supplier's account at Gazprombank.
In December 2024, President Vladimir Putin updated the procedure for gas payments to be made by foreign buyers. In particular, foreign companies were allowed to pay for Russian gas by crediting funds at their accounts via third parties and not directly through the account with Gazprombank.
Gazprombank was allowed to open not merely type K special accounts but ruble and currency accounts as well. Foreigners can make ruble payments to such accounts and "an authorized bank is allowed to credit funds in rubles coming from third parties for purposes of foreign buyer’s payments for natural gas supplies at a ruble account opened by a Russian supplier in the authorized bank."
Settlements for Russian gas with the use of Type K accounts of Gazprombank will not be performed until sanctions against the Russian banks are cancelled. Russian gas exporters can also restart supplies to foreign buyers if they repay the debt by rubles crediting to the account. The President also authorized Russian gas exporters to account counter-claims against foreign companies in gas payment commitments of foreign companies.
In late November 2024, the US imposed sanctions against Gazprombank, which, in particular, handles foreign payments for Russian gas and oil.