Russian President Vladimir Putin announced on Wednesday that the so-called hostile countries must pay for gas in Russian rubles, as one of the measures in response to the successive packages of sanctions and unilateral coercive measures by various Western powers.
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According to the Russian president “it makes no sense for us to deliver our products to the European Union, the United States and receive payment in dollars, euros and other currencies. Therefore, I decided to implement a set of measures to transfer payments as soon as possible. “.
However, he clarified that although he will refuse to use all the currencies committed in the calculations of the international price of Russian gas, deliveries would continue in accordance with the volumes and prices stipulated in the contracts.
Against this background, the Russian currency began to grow, the dollar fell below the mark of 100 rubles, having reached all-time highs of up to 132 rubles.
This information came after Deputy Prime Minister Alexander Novak announced that the increase in world energy prices will be unpredictable if sanctions are imposed against Russian oil and gas.
In that sense, he recalled that Russia is the largest supplier of energy resources to world markets, the participation of its exports is around 20 percent of the world level and, in the European case, it reaches more than 40 percent.
Indeed, the Kremlin sees the main theme of Biden’s unscheduled visit to Europe this week as Washington’s attempt to persuade Europeans to ditch Russian energy sources. “Obviously, without Russian hydrocarbons, the oil and gas markets will collapse,” Novak said.
After the Russian intervention in Ukraine, almost a month ago, the Western powers imposed sanctions on Moscow, although none of them included stopping receiving Russian gas, which has continued to be supplied to Europe and paid for by it, although in euros.