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Payment for gas in rubles is the most viable option for Russia

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Payment for gas in rubles is the most viable option for Russia

Moscow, Apr 1 (Prensa Latina) Presidential spokesman Dmitry Peskov reiterated that the decision to supply gas to hostile countries in rubles could be reversed in the future, but now it is the most reliable option for Russia.
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The senior official explained to the press that “there is nothing immutable in this case, but in the current conditions, rubles are the most preferable and reliable option for us,” referring to the decision that takes effect as of this Friday. Gazprom, Russia’s largest gas company, repeated that payments for the supply of Russian gas for export will be made in accordance with the rules established by the country’s legislation.

Yesterday, Russian President Vladimir Putin approved the decree on the rules for gas trade with countries described as hostile towards Russia, which provide for payment of contracts for the fuel in rubles.

“We provide contractors of these countries with a clear and transparent scheme: to buy natural gas, they must open ruble accounts with Russian banks, and it will be these accounts that will be used to pay for gas starting tomorrow, April 1,” he pointed out.

According to the head of State, Russia will consider a violation of contracts, if the buyers of its gas, belonging to the group of countries considered unfriendly by Moscow, refuse to pay for it in rubles.

He added that the new procedure, included in the decree published on the Kremlin’s Internet site, implies that the buyers will have to open special accounts in rubles with Gazprombank to pay for the supplies.

The text establishes the prohibition of deliveries of Russian natural gas under contracts to foreign persons from hostile countries if the payment deadline has not been met, if it was made in foreign currency in full or through an account in a bank that is not authorized by the decree.

He said that permission to pay for Russian gas in a currency other than the ruble may only be issued by the government commission for monitoring foreign investment in Russia.

Putin instructed the government to approve the procedure for the issuance of such permits by the commission within 10 days.

According to the head of State, Moscow will not do charity with the supply of its gas. “Nobody gives us anything for free and we will not make charity either. That is, existing contracts will be discontinued,” he stressed, referring to cases of non-payments in rubles.

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