President Vladimir Putin announced Wednesday that Russia will demand that "unfriendly'' countries pay for Russian natural gas exports only in rubles from now on.
Economists said the move appeared designed to try to support the ruble, which has collapsed against other currencies, but some analysts expressed doubt that it would work.
Russian President Vladimir Putin said Wednesday that Russia will insist that "unfriendly countries" pay for Russian natural gas exports only in rubles going forward, according to reports.
Economists said the move appeared designed to try to support the ruble, which has collapsed against other currencies after Western countries hit Russia with far-reaching sanctions
Economists said the move appeared designed to try to support the ruble, which has collapsed against other currencies since Putin invaded Ukraine and Western countries responded with far-reaching sanctions against Russia.
Hitting back at Western sanctions, president says he won't supply goods and receive payments in other currencies while Russia's assets are frozen; experts doubt move will work
Russian President Vladimir Putin has said his country would start selling gas to certain nations in Russia's own currency, prompting a rise in the ruble's value on the Moscow Stock Exchange.
BRUSSELS (AP) — President Vladimir Putin's threat to have “unfriendly” countries pay for Russian natural gas exports only in rubles from now on got the not-so-friendly treatment from European Union
The Russian president's announcement that countries "unfriendly" to Moscow must pay for gas deliveries with rubles shows that he's willing to use energy as a weapon in the Ukraine war. This puts the West in a tight spot.
Several leaders from European Union members have scoffed at Russia's demand that some "unfriendly" countries will be forced to pay for its natural gas and oil in rubles, saying the move is a breach of contract
Putin is insisting that the US, the UK and the EU pay for their Russian gas purchases with rubles—a strategy to force the West to dilute the effects of its own sanctions on Moscow.
