EU comes up with sanctions, and then comes up with ways to circumvent them.

The European Commission has developed a scheme by which European countries can buy Russian gas for rubles, writes Bloomberg.

The scheme works like this:

▪European company transfers euros or dollars for gas to Russia.

▪Immediately thereafter, the company must “make a clear statement” that it considers its obligations under the contract fulfilled.

▪The company should not require further conversion of the payment into rubles.

▪At the same time, it will still have an open ruble account. The EU promises not to interfere with its opening.

And this means that the payment in euros will be converted into rubles. But without loud statements.

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