The European Union is exploring a pathway for gas importers to continue purchasing Russian fuel without breaching sanctions, while simultaneously enabling a mechanism that aligns with President Vladimir Putin’s ruble-based payment expectations. A recent financial briefing outlines the approach as part of the EU’s ongoing effort to balance sanctions compliance with the energy security needs of member states.
Under this scheme, the European Commission would require companies to transparently confirm their adherence to contractual payment terms when conducting settlements in euros or dollars. In a closed-door session, the EU executive body explained to government delegations that authorities do not intend to bar firms from setting up accounts with Gazprombank, provided that these transactions comply with the sanctions regime and the terms of their existing contracts. The overarching aim is to keep gas flowing to Europe while maintaining strict visibility into how payments are processed and reported.
An official accompanying the briefing emphasized that once a payment is executed in euros or dollars and the obligated parties declare fulfillment of their contractual duties, there is no additional action required by Russia in relation to that particular payment. This nuance is presented as a way to avoid triggering extra steps in the payment chain, even as the sanctions framework remains in force and continually monitored by European authorities. The clarification is intended to reduce administrative frictions for European buyers at a time of heightened energy market volatility and geopolitical tension, while preserving the integrity of the sanctions architecture.
In parallel, the Commission is weighing the possibility of introducing price caps or other consumer relief measures should Russian gas supplies be interrupted. The objective is to shield European households and industry from sharp price swings while maintaining a clear procedural path for payments and reporting. Officials stress that any such price-control measures would be designed with market reliability in mind, aiming to preserve steady deliveries and prevent a broader energy emergency. These considerations reflect the EU’s broader strategy to diversify energy sources, strengthen storage, and secure predictable pricing signals for member economies amid ongoing sanctions enforcement and global energy dynamics.