Wednesday, May 11, 2022

Russia sanctions Gazprom Germania, 30 others - TeleTrader.com

Russian authorities announced on Wednesday that they have decided to implement a new batch of economic sanctions on 31 entities that are current or former subsidiaries of Gazprom, among which is Gazprom Germania.

The Polish Europol Gaz SA, which is also included on the list, is a joint venture between Gazprom and the Polish PGNiG.

"On the application of retaliatory special economic measures in connection with the unfriendly actions of certain foreign states and international organizations, the Government of the Russian Federation decided to approve [sanctions against] the attached list of legal entities," the document stated.

The companies included in the list are not allowed to make transactions in favor of persons under sanctions, transactions involving the entry into Russian ports of ships owned and (or) chartered by persons under sanctions, in their interest or on their behalf, as well as transactions with securities with the participation and (or) in favor of persons under sanctions, it was written in the document.

2 comments :

  1. The Russian government has approved a list of legal entities, which are subject to retaliatory sanctions. The relevant resolution of the Cabinet of Ministers was published on the official portal of legal information on Wednesday.

    The list includes 31 companies from Germany, France and other European countries, as well as from the USA and Singapore. In particular, it includes former European subsidiaries of Gazprom, traders and operators of underground gas storage facilities.

    In particular, Russian authorities, legal entities and citizens will not be able to conclude transactions with the sanctioned entities and organizations under their control, fulfill obligations to them under completed transactions, and conduct financial transactions in their favor. This includes the concluded foreign trade contracts. These bans were earlier established by a decree of Russian President Vladimir Putin.

    The resolution sets additional criteria for transactions that are prohibited from being performed with companies from the sanctions list. These are transactions concluded in favor of the sanctioned persons, or providing for the making of payments, transactions with securities with the participation or in favor of such companies, or transactions involving the entry of ships owned or chartered by sanctioned persons, in their interest or on their behalf, into the Russian ports.

    The resolution appoints the Russian Finance Ministry responsible for sending proposals to the Cabinet of Ministers on making changes to the list, as well as on granting temporary permits for certain transactions with persons under sanctions. The document comes into force from the date of its official publication.
    Sanctioned companies

    Russia’s sanctions list includes Gazprom Germania GmbH, Gazprom Schweiz AG, Gazprom Marketing & Trading USA Inc, Vemex, Wingas, EuRoPol GAZ.

    On March 31, 2022, the Gazprom Group ceased participation in the German company Gazprom Germania Gmbh and all its assets, including Gazprom Marketing & Trading Ltd. The holding no longer owns the St. Petersburg-based subsidiary Gazprom Export Business Services, which in turn is the sole founder of Gazprom Germania GmbH. The Russian holding said that these companies should stop using Gazprom's trademarks.

    The German Ministry for Economic Affairs and Climate Action placed Gazprom Germania GmbH under the trusteeship of the Federal Network Agency until September 30.

    Gazprom Germania is an international group of companies that, through its subsidiary Gazprom Marketing & Trading, is engaged in natural gas trading in the UK spot markets, as well as the sale of liquefied natural gas in Southeast Asia. Through its subsidiary Gazprom Schweiz AG, it trades natural gas in countries Central Asia and the former Soviet Union, as well as in Austria, Italy and Serbia. Natural gas is traded in Germany mainly through Wingas and in the Czech Republic and Slovakia through Vemex Gazprom Germania.

    Gazprom Germania is also the operator of several large gas storage facilities in Germany and has several projects in Serbia, Austria and the Czech Republic.

    EuRoPol GAZ is a joint venture between Gazprom and Poland's PGNiG, which owns the Polish section of the Yamal-Europe gas pipeline.
    TASS

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  2. Russia has enough buyers for its energy resources beside Western countries, which, in turn, will now have to pay more for the deliveries and explain to their citizens why they have to sacrifice their well-being, Russian Foreign Minister Sergey Lavrov said on Wednesday.

    "We have enough buyers of our energy resources and we will work with them. Let the West pay a lot more than it paid Russia and let it explain to its population why they have to become poorer," Lavrov said at a joint press-conference after a meeting with Omani Foreign Minister Sayyid Badr Albusaidi.

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