PUTIN SIGNED DECREE Unfriendly countries will pay for gas in rubles

SARAJEVO, (Patria) - Russian President Vladimir Putin signed a decree on the new procedure for paying for Russian gas - in rubles - with unfriendly countries, reports Russian state agency RIA Novosti.

“We are offering contracting parties from such countries a clear and transparent scheme. To purchase Russian natural gas, they must open ruble accounts in Russian banks. The gas supplied from tomorrow, April 1, 2022, will be paid for from these accounts,” said Russian leader Vladimir Putin, speaking at a meeting on the aviation industry, according to RIA Novosti.

The refusal of these countries to pay for fuel in rubles would be considered, he added, a failure to fulfill obligations, and in that case, existing contracts would be terminated.

From the text of the document, according to the agency, it follows that this will only affect Gazprom's pipeline supplies.

Gasprombank has been designated as the authorized bank where foreign customers will be able to open special ruble accounts for paying for gas supplies.

Previously, Putin ordered Gazprom, the Central Bank, and the government to arrange the transfer of payments in rubles for gas supplies to unfriendly countries by March 31.