EU Pushes US To Lift Sanctions On Gazprombank

The European Union (EU) is pushing the United States to ease sanctions on Gazprombank, a major Russian bank that was crucial for the EU’s energy needs. Up until recently, EU countries used Gazprombank to pay for Russian natural gas, but things have changed, and now the EU is in talks with the US to find a solution.

So, what happened? Well, the US put sanctions on Gazprombank last month, blocking it from receiving payments for Russian gas. This move was part of a broader effort to punish Russia for its actions in Ukraine. However, the EU is now concerned that these sanctions could put its energy supply at risk, especially as some European governments and companies have warned that the ban could lead to serious shortages of gas in the region.

Gazprombank was the last Russian bank still allowed to connect to SWIFT, the global messaging system that banks use to send payments to each other. However, after the sanctions, Gazprombank is no longer able to process payments for Russia...