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German companies Uniper, RWE pay for Russian gas under Putin's scheme.

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Under the scheme, buyers are obliged to deposit euros or dollars into an account at Russia’s Gazprombank, which has to convert them into rubles and transfer the payment to Russian gas giant Gazprom. In March Putin demanded that European consumers pay for gas in rubles in violation of gas supply contracts. Eventually the European Union refused to pay in rubles, and the Kremlin came up with the Gazprombank scheme. Tim McPhee, a spokesman for the European Commission, said on May 12 that the Gazprombank scheme would breach EU sanctions because it involves Russia’s central bank, which has been sanctioned by the European Union.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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The Kyiv Independent staff documented what it feels like to live and sleep in Kyiv, Ukraine, as Russia intensifies its drone and missile attacks on the city. Filmed over several weeks in June and July, our journalists take shelter in bathrooms, basements, and parking garages as explosions ring out overhead.

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