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Going beyond its guidance on Russian gas payments is not ‘advisable,’ EU says
Global Banking & Finance Review®
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BRUSSELS (Reuters) – It is not “advisable” for companies to go beyond the European Commission’s guidance on how to keep paying for Russian gas without breaching EU sanctions against Moscow for its invasion of Ukraine, a Commission spokesman said on Thursday.
BRUSSELS (Reuters) – It is not “advisable” for companies to go beyond the European Commission’s guidance on how to keep paying for Russian gas without breaching EU sanctions against Moscow for its invasion of Ukraine, a Commission spokesman said on Thursday.
“We have given guidance to the member states that says what it is that they can do,” the spokesman said.
“What it is that they can do is open a bank account in the currency of the contract that they hold with Gazprom, to make a payment to that bank account in the currency of the contract and issue a statement saying that so then this means that they have fulfilled their contractual obligation, and we don’t consider that doing anything else is advisable.”
(Reporting by Kate Abnett, editing by Marine Strauss)
Compliance refers to the process of ensuring that a company adheres to legal regulations, industry standards, and internal policies. It is essential for maintaining ethical practices and avoiding legal penalties.
EU sanctions are restrictive measures imposed by the European Union against countries, organizations, or individuals to promote foreign policy objectives, maintain international peace, and uphold human rights.
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