Putin has ordered the conversion of gas payments into rubles by March 31

LAST UPDATE: 13.19

Russian President Vladimir Putin expects the Council of Ministers, the Central Bank of Russia and Gazprom to submit a report by March 31 on the implementation of the mandate to pay for gas in rubles for “unfriendly countries”, as he announced. the Kremlin according to the Russian news agency Ria Novosti.

“The Russian government, together with the Central Bank and Gazprom, will implement a series of measures to change the currency of payment for gas supplies to the European Union and other countries that have imposed sanctions on Russian citizens and Russian legal entities in the “The report must be submitted by March 31, 2022,” the statement said.

The Kremlin has also said that Russia is working on methods to accept payments in rubles for gas exports and will make decisions in a timely manner if European countries refuse to pay in Russian currency.

Kremlin spokesman Dmitry Peshkov said there would be a clear framework for making such payments.

Following the start of the Russian invasion of Ukraine and the tightening of Western sanctions, calls for a reduction in dependence on Russian energy resources became stronger in Europe.

Russian Deputy Prime Minister Alexander Novak has said that even the simplest talk of rejecting Russian energy from Europe is negative for the market. Without Russian gas supplies, he said, people would collapse and prices would be unpredictable.

It is recalled that on March 23, Putin said that gas payments to “unfriendly countries” should be converted into rubles and instructed the Central Bank and the government to determine the procedure for these transactions. Putin had also stressed that Russia would continue to supply gas in accordance with existing contracts, because it values ​​its reputation.