Russian gas: Eni, the process for opening current accounts ‘K’ in euros and rubles is underway

Eni, “in view of the imminent payment deadlines foreseen for the next few days, has started as a precautionary procedure the procedures relating to the opening at Gazprom Bank of the two current accounts denominated K, one in euro and one in rubles, indicated by Gazprom Export according to a unilateral request to modify existing contracts, in line with the new procedure for the payment of gas ordered by the Russian Federation “. Eni, however, has long since rejected these changes “. This is what is learned in a note from the Six-legged Dog in which it is specified that” the decision, shared with the Italian institutions, was taken in compliance with the current sanctioning framework international and in the context of an ongoing discussion with Gazprom Export to expressly confirm the allocation by Gazprom Export itself of any costs or risks connected with the different execution of payments “.

“Eni, however, in the absence of future complete, exhaustive and contractually founded answers from Gazprom Export, will initiate an international arbitration on the basis of Swedish law (as required by the existing contracts) to resolve the doubts regarding the contractual changes required by the new payment procedure and the correct allocation of costs and risks – reads the note -. In any case, Eni firmly reaffirms that it will respect any future regulatory measures that might intervene to sanction gas trading or current counterparties “.