Max Pastukhov

Main Menu

  • Home
  • Open democracy
  • Pussy riot
  • Abramovich
  • Vladimir Putin
  • Money Management

Max Pastukhov

Header Banner

Max Pastukhov

  • Home
  • Open democracy
  • Pussy riot
  • Abramovich
  • Vladimir Putin
  • Money Management
Vladimir Putin
Home›Vladimir Putin›Putin says Russia will implement ruble payments for gas from Friday

Putin says Russia will implement ruble payments for gas from Friday

By Larry Bowman
March 31, 2022
0
0

Russian President Vladimir Putin attends a meeting with government officials via video link at the Novo-Ogaryovo state residence outside Moscow, Russia March 23, 2022. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS

Join now for FREE unlimited access to Reuters.com

Register

March 31 (Reuters) – Russian President Vladimir Putin said on Thursday he had signed a decree stipulating that foreign buyers must pay in rubles for Russian gas from April 1 and that contracts would be halted if such payments were not met. not done.

“To buy Russian natural gas, they need to open ruble accounts in Russian banks. It is from these accounts that payments for gas delivered from tomorrow will be made,” Putin said in televised remarks. .

“If such payments are not made, we will regard this as a default on the part of the buyers, with all the consequences that flow from it. No one is selling us anything for free, nor will we make any charity – that is, existing contracts will be terminated.”

Join now for FREE unlimited access to Reuters.com

Register

Russia provides around a third of Europe’s gas, so energy is the most powerful lever at Putin’s disposal as he tries to retaliate against harsh Western sanctions following his invasion of Ukraine.

His decision to impose ruble payments boosted the Russian currency, which fell to historic lows after the Feb. 24 invasion but has since recovered.

Western companies and governments have dismissed the move as a breach of existing contracts, which are fixed in euros or dollars. France’s economy minister said France and Germany were preparing for a possible scenario of Russian gas flows shutting down, which would plunge Europe into a full-fledged energy crisis.

An order signed by Putin established a mechanism for buyers to transfer foreign currency to a special account in a Russian bank, which would then send rubles back to the foreign buyer to make payment for the gas.

He said the change was aimed at strengthening Russia’s sovereignty and that it would meet its obligations on all contracts.

Join now for FREE unlimited access to Reuters.com

Register

Reuters reporting; written by Mark Trevelyan, editing by Guy Faulconbridge, Gareth Jones, Alexandra Hudson

Our standards: The Thomson Reuters Trust Principles.

Related posts:

  1. Russia’s northernmost base projects power into the Arctic
  2. Putin is ready to “decarbonize Europe”. With Arctic LNG
  3. US Cold War adviser asks ‘gentleman’ Vladimir Putin for Russian citizenship
  4. US-Russian standoff looms as top diplomats meet in Iceland

Categories

  • Abramovich
  • Money Management
  • Open democracy
  • Pussy riot
  • Vladimir Putin

Recent Posts

  • In the world’s largest democracy, believers are not free
  • Vladimir Putin ready for ‘mass mobilization’ of troops for Ukraine as Russian funeral bills rise
  • US investor’s purchase of Chelsea soccer club from Putin associate Abramovich intrigues Wall Street
  • Reclaiming Democracy – The American Perspective
  • Ukraine LIVE: Putin activates ’50 sleeper agents’ to launch attacks on UK infrastructure | World | New
  • Privacy Policy
  • Terms and Conditions