(Bloomberg) -- The U.K. has issued a temporary license allowing payments to sanctioned Russian lender Gazprombank JSC until the end of May for natural gas used in the European Union.

President Vladimir Putin last month ordered Gazprombank to handle all transactions for Russia’s pipeline gas with so-called “unfriendly” states, which includes most of Europe. A U.K. Treasury document published on Thursday doesn’t specify which company applied for the permission to work with the lender, which is sanctioned in Britain but not in the EU.

Read: EU Gas Has Shrugged Off Putin’s Ruble-Payment Demand. Here’s Why

The license allows transactions with Gazprombank and its subsidiaries “for the purpose of making gas available for use in the European Union,” the document said. That includes the opening and closing of bank accounts until the license expires. 

Putin has threatened to halt gas supplies to buyers that don’t comply with last month’s decree that European customers must open two accounts, one in a foreign currency and one in rubles. Gazprombank would be responsible for converting the foreign currency into rubles and transferring the money to gas supplier Gazprom PJSC. 

Most bills for April gas are due in May, so there’s still time for clients to adjust, Russian officials have said. 

However, the EU -- which got about 40% of its gas from Russia last year -- has indicated that Putin’s demand may violate sanctions imposed on Moscow following its invasion of Ukraine. Nations including Germany and the Netherlands have also rejected the new payment system, while Hungary has said it won’t rule out the switch. 

©2022 Bloomberg L.P.