XM does not provide services to residents of the United States of America.

US exempting gas payments from Russia Gazprombank sanctions, Hungary says



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-US exempting gas payments from Russia Gazprombank sanctions, Hungary says</title></head><body>

Adds comments, context, background, in paragraph 2 to end

BUDAPEST, Dec 19 (Reuters) -The United States granted an exemption for gas payments on Thursday from sanctions it had imposed on Russia's Gazprombank, Hungarian Foreign Minister Peter Szijjarto said in a video posted to social media.

The U.S. imposed sanctions on Gazprombank on Nov. 21, creating an obstacle for European buyers of Russian gas. Buyers had been using Gazprombank to make payments.

Hungary, which mainly relies on Russian oil and gas, asked the U.S. for an exemption.

The U.S. sanctions on Gazprombank have caused difficulties for several importers, who also include Turkey and Slovakia, and these countries have been looking for clarification and options to make payments.

"Today they have given an exemption for gas payments relating to Gazprombank, which is good news, but in the meantime we have worked out a solution with our regional allies, an alternative mode of payment, which does not violate sanctions but allows payments (for gas)," Szijjarto told a reporter in New York, in the video.

The U.S. Treasury Department could not be immediately reached for comment.

Slovakia's main gas buyer, state-owned SPP, said it had not received notification of a gas-payment exemption.

Szijjarto said the U.S. continued to ban financial transactions via Gazprombank relating to the Paks 2 nuclear plant that Russia's Rosatom is building in Hungary, calling it an "entirely political decision".

He said Hungary's energy supply was secure, but did not give further details on the gas payments.

Szijjarto had said on Friday the gas-payment issue had been resolved as the affected countries had worked out an alternative mode of payment. He did not say how that would work, and the Hungarian Foreign Ministry has not replied to emailed Reuters questions.



Reporting by Krisztina Than; additional reporting by Jason Hovet in Prague; Editing by Rod Nickel

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.