Vladimir Putin’s announcement that Russia will demand payment for its natural gas in roubles has shaken energy markets and raised fears of further supply shocks.
The Russian President said on Wednesday the country would now only accept payments in roubles for gas deliveries to “unfriendly countries”, which include all European Union members, the US, Great Britain, and Australia, after Moscow was hit by unprecedented sanctions over Ukraine.
Immediately after his announcement, the rouble — which has plummeted since the start of the Ukraine conflict — strengthened against the dollar and euro, while gas prices rose.
“I have decided to implement a set of measures to transfer payment for our gas supplies to unfriendly countries into Russian roubles,” Mr Putin said during a televised government meeting.
He added, however, that Russia will continue supplying the volume of gas outlined in its contracts.
The Russian President said on Wednesday the country would now only accept payments in roubles for gas deliveries to “unfriendly countries”, which include all European Union members, the US, Great Britain, and Australia, after Moscow was hit by unprecedented sanctions over Ukraine.
Immediately after his announcement, the rouble — which has plummeted since the start of the Ukraine conflict — strengthened against the dollar and euro, while gas prices rose.
“I have decided to implement a set of measures to transfer payment for our gas supplies to unfriendly countries into Russian roubles,” Mr Putin said during a televised government meeting.
He added, however, that Russia will continue supplying the volume of gas outlined in its contracts.
Last edited:
️
