3/28, 10:28 AM (Source: TeleTrader)
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Putin instructs gas ruble payment to start by March 31

Russian President Vladimir Putin has set a deadline of March 31 to the Ministers' cabinet, the central bank and Gazprom to effectuate a currency change for countries that have previously imposed sanctions on Moscow upon their purchases of Russian gas, the Kremlin press service announced on Monday.

"The Government of the Russian Federation, together with the Bank of Russia and the public joint-stock company Gazprom, should implement a set of measures to change the currency of payment for natural gas supplies to the countries of the European Union and other countries that have introduced restrictive measures against citizens of the Russian Federation and Russian legal entities, to the Russian ruble," it was noted in the press release.

Yesterday, the European Union High Representative Josep Borrell announced the EU's readiness to reduce its gas and oil dependence on Moscow, adding that the block will be able to completely dispense with Russian gas within 2 years.

Baha Breaking News (BBN) / SP