'Unfriendly' nations must pay for Russian natural gas in rubles

Mar 24, 2022 | News On Japan

Mar 24, 2022 (NHK) - Russian President Vladimir Putin has disclosed plans to demand that countries Russia deems "unfriendly'' pay for natural gas exports only in rubles.

The move is seen as an effort to stop the volatile Russian currency from plummeting further.

At an online meeting with his Cabinet on Wednesday, Putin criticized the West and its allies for having frozen Russia's foreign currency reserves.

Putin said it "makes no sense whatsoever" to supply Russian commodities to the European Union and the United States and receive payment in dollars, euros and other currencies.

He said he made the decision to implement as soon as possible measures to transfer payments for Russia's natural gas supplied to the so-called unfriendly nations to rubles.

Russia earlier released a list of countries and territories that had taken what it called "unfriendly" action against Moscow following its invasion of Ukraine.

Japan, the United States and European Union member states are included on the list.

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