Energy-resources Communications

Vladimir Putin: Russia will convert payments for gas supplies to Europe into rubles

Russia will refuse to accept payments for gas supplies in compromised currencies, including dollars and euros, and will switch to payments in rubles, Russian President Vladimir Putin said.

"I made a decision to implement in the shortest time a set of measures to transfer payment - let us start with this - of our natural gas supplied to the so-called unfriendly countries for Russian rubles," he said.

The President noted that Russia will continue supplying gas to other countries in accordance with the volumes and prices stated in the contracts concluded earlier. "I would like to note separately that Russia will certainly continue to supply natural gas in compliance with the volumes and the prices, the pricing principles fixed in the contracts concluded earlier," he said.

All foreign consumers should be able to make payments for Russian gas in rubles.