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5/17, 6:19 PM (Source: TeleTrader)
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ENI opens rubles account for Russian gas payments

The largest Italian oil and gas company Eni S.p.A. confirmed on Tuesday it has opened accounts in euros and rubles to fulfill payments for the supply of Russian gas.

In a statement posted on its official website, the Italian energy giant said that this move followed "Gazprom Export's unilateral request to amend existing contracts in accordance with the new gas payment procedure." Eni said that its decision was taken jointly with the Italian government and that it is "on a precautionary basis," as the deadlines for the payment of gas supplies are scheduled for the next few days.

Russian President Vladimir Putin decided earlier to change the currency of payment for natural gas supplies to the countries that have previously imposed sanctions on Russia, to the Russian ruble.

Baha Breaking News (BBN) / TB