TASS
Apr 4, 20222 min
Last week Russian President Vladimir Putin requested moving payments for gas supplies to unfriendly countries to rubles, saying that Moscow would refuse to accept payments on such contracts in discredited currencies, including dollars and euros. He also tasked the government with giving Gazprom an instruction on amending present contracts. On March 31, Putin signed a decree on rules of gas trade with unfriendly countries, which stipulates a new system of contract payment.
The new procedure of payment for Russian pipeline gas in rubles by buyers from unfriendly countries came into force on April 1. Such buyers are required to open special ruble and foreign currency accounts with Gazprombank to pay for gas supplies. Currency conversion will be carried out on Russian exchanges. In case of incomplete payment, Russian customs is authorized to ban deliveries. The government commission for the control of foreign investment in Russia has the right to issue exceptions to these rules for individual buyers.
Source: TASS
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