Why Vladimir Putin wants to charge Russian gas in rubles

This is a new escalation around Russian hydrocarbons. In response to Western sanctions against Russia, Vladimir Putin caused a surprise, decreeing on Wednesday that he no longer wanted euros or dollars in payment for natural gas deliveries. “I have taken the decision to implement a set of measures to switch to payment in rubles for our gas delivered to hostile countries, and to forego, for all payments, the currencies that have been compromised,” he said. he said at a government meeting. He also hinted that other Russian exports would be affected.

Countries deemed “hostile” include the United States, the United Kingdom and all members of the European Union. The Russian president asked the central bank and the government to establish “within a week” the new system which must be “clear and transparent”, and involves “the acquisition of rubles on the market” Russian changes.

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