Russia will cut off gas to Western countries that do not pay in rubles: Putin

Economy

Published: 2022-03-31 16:24

Last Updated: 2023-02-07 06:20


Credit: AFP
Credit: AFP

Russian President Vladimir Putin said Thursday that Western countries classed as "unfriendly," including all EU members, will need to set up ruble accounts to pay for gas deliveries starting April 1, AFP reported.

He added that missing payments will lead to "existing contracts being stopped.”


Also Read: Russia will only accept payment in rubles for gas shipments to Europe: Putin


"Today I signed a decree that establishes the rules for trading Russian natural gas with so-called unfriendly states. We offer counterparties from such countries a clear and transparent scheme," Putin said.

Putin added, “"In order to purchase Russian natural gas, they (counterparties from unfriendly states) must open ruble accounts in Russian banks. It is from these accounts that gas payments will be made."

"If such payments are not made, we will consider this a default on the part of the buyers with all the ensuing consequences. Nobody sells us anything for free, and we are not going to do charity work. Therefore, in that case, existing contracts will be stopped."