In statements to Sputnik news agency, the Minister said that they are working to balance the budget, taking into account the changing situation.

He emphasized that the countries of the so-called old continent will not be able to give up Russian gas and oil in the near future.

“Russia will take into account the reduction of gas consumption in Europe when preparing the budget for future periods, hoping at the same time to divert its supplies to alternative markets, such as Asia,” Siluanov said.

In this sense, he explained that at the end of this year, the federal budget will be executed with a deficit of around one percent of the Gross Domestic Product (GDP).

On April 27, the Gazprom energy company suspended natural gas supplies to the Bulgarian distributor Bulgargaz and the Polish PGNiG, due to their refusal to pay in rubles.

The decision was described by the European Union (EU) as “blackmail”, while Moscow assured that it continues to be a “reliable supplier of energy resources for its consumers”.

At the end of March, President Vladimir Putin announced that countries “hostile” to Russia, including the 27 EU member states, will have to pay in roubles for gas.

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