Home / World News / UK allows gas payments to Gazprombank until May 31 to ensure EU supplies

UK allows gas payments to Gazprombank until May 31 to ensure EU supplies

The licence permits an individual or company to continue payments under contracts that began before April 21, 2022 and allows actions such as opening and closing bank accounts to make such payments

Premium

Photo: Bloomberg

2 min read Last Updated : Apr 22 2022 | 5:12 PM IST

Britain has granted Russia's sanctioned Gazprombank and its subsidiaries a licence for payments until the end of May in order to ensure gas supplies to the European Union, a Treasury document showed on Friday.

The licence permits an individual or company to continue payments under contracts that began before April 21, 2022 and allows actions such as opening and closing bank accounts to make such payments, according to the document published online.

Gazprombank, one of the main channels for payments for Russian oil and gas, is among Russian entities that have been sanctioned by Britain to penalise the Kremlin and

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Russia Ukraine Conflict gas supplies

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in