Putin: Russian gas only against ruble

Russia will continue supplying gas to other countries in accordance with volumes and prices stipulated in earlier concluded contracts, the head of state stressed

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ALERT:  Sourced from Russian State-Controlled Media

Tass.com – TASS agency reports that Russian President Vladimir Putin has ordered gas to be delivered to “unfriendly countries” only against rubles. Payments for gas deliveries “in compromised currencies,” including dollars and euros, will no longer be accepted. Putin: Russian gas now only against rubles.

As the Russian news agency further writes, Russian President Vladimir Putin stated at a meeting with the government on Wednesday:

“I have decided to take a series of measures in the shortest possible time to convert payment – let’s start with this – for our natural gas, which we supply to the so-called unfriendly countries, into Russian rubles.”

Thus, he said, the plan is to reject all compromised currencies in such payments.

The Russian president pointed out that Russia would continue to supply gas to other countries at the volumes and prices stipulated in the contracts concluded earlier:
“I would like to emphasize separately that Russia will definitely continue to supply natural gas at the volumes and prices stipulated in the contracts concluded earlier.”

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The president added that foreign consumers should be able to carry out the necessary transactions after payments for Russian gas supplies to unfriendly countries are changed to rubles. The head of state stressed that the future changes in gas contracts with unfriendly countries would affect only the payment currency.

“I urge the government to give Gazprom an appropriate instruction to change the existing contracts. At the same time, all foreign consumers should be given the opportunity to carry out the necessary transactions,”

Putin ordered.

According to DPA, the Russian president’s order affects the “unfriendly states” kept on a blacklist. These include Germany and all other EU states, but also, for example, the United States, Canada, and Great Britain. The announcement promptly caused the Russian currency, which is currently under massive pressure, to strengthen.

The central bank and the Russian government now have one week to determine the modalities for the conversion from foreign currency to ruble payments, Putin said. The West had itself devalued its currencies by freezing Russian assets abroad, he said.

In response to the West’s sanctions, Russia’s government had already decided earlier this month that its own financial obligations “with unfriendly states” would be settled only in rubles. These include Ukraine, Switzerland, and Japan.

Source:  Tass.com

SOURCETass.com

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9 COMMENTS

  1. In fact, there is nothing unusual in this scheme. If before that countries bought gas from the Russian Federation for dollars, then they had to buy them first. If I live in Japan and I need to buy gas, I buy dollars for Japanese yen and transfer them to the Russian Federation for gas supplies. What prevents you from buying rubles now? Only in this scheme will the Russian ruble strengthen.
    We just need to look at the terms of long-term gas supply contracts from Russia to the EU. European countries can challenge changes in the payment of contracts in the courts. I am not very familiar with the terms of payment for gas in the contracts, but I believe that there is something written in the section on force majeure.

  2. Anyone with an ounce of sense knew this was coming. I called it before the special operation began. It was a natural economic response to bolster the rouble should the west ban Russia from SWIFT, which they did. Now the west is forced to prop up the rouble if they don’t want to freeze. I’m no economic genius, but I saw it coming. The US has economists, surely they saw it coming…yet they persisted? This is looking more and more like an engineered collapse.

  3. If NATO ideologists are particularly sensitive on certain issues, that is their currency depreciation. This makes all the Pentagon’s extensive budget look insufficient. USA keep using currency as a weapon, not only as a medium for goods transfer. But then again, Russia are not Syria, Iraq, or Libya. Things might get very uncomfortable for the Western pillars of society.

  4. Let’s all hope that all and any nuclear devices that are detonated will be small tactical and instructional ones. Russia has already shown her new crown jewels. Her now deployed and succesful hypersonics will make ANY adversary loath to be another victim. Add his formidible & most likely virtually peerless nuclear, small and reportedly, gargantuan (100 megaton!) options to rattle or vaporize his targets, no sane leader of any state is apt to gamble his country or his own mortality. Add Russia’s strategic depth and one must really wonder who would dare to cross nuclear swords with them tomorrow. They seem to me to be far out front in deterrence. MAD seems to be decisively on their side at this time. What do other’s here at VT think on this?

    • Siberia and Russia’s Far East will survive. I am going to go there soon. For work 😎

  5. or example, the United States, Canada and Great Britain…

    well if he is Jed Clampet – its gold !

    something about EU – USD as unreliable…

  6. What will be the exchange rate? Will the Russian central bank accept Euros? Will it demand payment in gold? Hello Gasrubl! Remember Saddam and “I will only sell oil for Euros”? Remember Gadaffi and the Gold Dinar? The Saudis selling oil for Yuan. Is Kissingers Petrodollar going the way of the Dodo? Is the fan getting hit by the doo-doo?

    • If you’ve really come from another planet, or dimension, I can understand how what’s happening to the so-called “West” right now is confusing. Certainly you will not be aware that close to two thousand Earth years ago a dude by the name of Jesus threw a bunch of Babylonian money-changers out of what was then called the Temple in the city of Jerusalem in present-day Palestine. They’ve never forgiven him for that, to this very day. They’ve morphed over the centuries into being the real “powers that be” on the planet Earth. Some people think they aren’t even human anymore, maybe some AI profit algorithm that has no use whatsoever for actual human beings. Hence, galloping global warming, horrible bio-weapons, and best of all, nuclear warfare. This will reduce the human population on this planet down to maybe just a few mating pairs that will be kept as pets. You’d better get back to wherever you came from because this planet will soon be uninhabitable.

    • Ain´t Russia who decide it, it´s the market and it going to depend of the amount that is in search by the countrys. You can confirm it by the fact that the market by the simple fact of the possibility raised by the law of more search for the russian coin that it already have recovered from the fall.

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