The material notes that in April the EC provided the EU countries with a preliminary legal analysis of the decree of the Russian leader.

“Putin’s decree significantly changes the procedure and creates a new legal situation,” the agency’s source said.

The EC believes that Russia will be able to control transactions and regulate the exchange rate in its favor.

“This mechanism will violate the restrictive measures that the European Union has taken ... against the Russian government, the Central Bank,” the source added.

On March 31, Putin signed a decree on gas trade with unfriendly countries. 

According to him, in order for Western countries to be able to purchase gas from Russia, they must open accounts in Russian banks.