Hungary plans to pay for Russian gas in euros through Gazprombank, which will convert the payment into rubles to comply with Russia's demand, Foreign Minister Peter Szijjártó said, according to Reuters.

Under the scheme, CEE Energy, a subsidiary of the Hungarian energy group MVM, will pay the bill in euros, which Gazprombank converts into rubles and then transfers to the Russian company Gazprom Export, Szijjártó said.

With weeks left until bills are due, the European Commission has said those with contracts requiring payment in euros or dollars should stick to it.

Prime Minister Viktor Orban said last week that Hungary was ready to pay for Russian gas in rubles.

The ability to pay bills in a currency other than euro was included in a bilateral contract between CEE Energy and Gazprom Export signed in September, which will be amended to reflect planned changes, he said.

Szijjártó added that Hungary opposes a joint EU approach to this issue, which Budapest considers a bilateral issue.

The foreign ministers of Ireland, Lithuania and the Netherlands said on Monday that the European Commission is preparing proposals for an EU oil embargo on Russia, although there is still no agreement to ban Russian oil.