With the decree signed by Putin, a change was made in the decision that Western countries that impose sanctions on Russia and are defined as “unfriendly” can only pay for Russian gas in rubles.
According to the decree, which allows “unfriendly” countries importing Russian gas to pay their debts in foreign currencies such as dollars or euros, the repayment of the debts of these countries will not mean the resumption of Russian gas shipments.
FUNDS ARE CONVERTED TO RUBLES ON THE MOSCOW EXCHANGE
With the decree signed by Putin on March 31, countries that buy Russian gas are required to open an account at Gazprombank, but after the payments are made to this bank, these funds are converted into rubles on the Moscow Stock Exchange.
Russian energy company Gazprom stopped natural gas shipments to Poland, Bulgaria, Finland, the Netherlands and some European companies on the grounds that they did not pay in rubles. (AA)