MOSCOW, KOMPAS.TV – Russian President Vladimir Putin said Wednesday (23/3/2022) that he would immediately impose payments in rubles for purchases of Russian natural gas by countries not friendly to Russia, but ensured that his country would fulfill its supply and price commitments set out in the previous contract, as reported by RIA Novosti, Wednesday, (23/3/2022)
Earlier, Russian President Vladimir Putin ordered that the Gazprom contract be converted into rubles for hostile countries.
“I would like to separately emphasize that Russia will definitely continue to supply natural gas according to the volume and price, the pricing principles set out in the previously agreed contracts. Unlike some colleagues, we value our business reputation as a reliable partner and supplier,” said Putin.
Putin then ordered the Central Bank of Russia and the Cabinet of Ministers to determine the procedure for transactions with Europe in rubles within one week.
Also Read: European Union Doubts Russia’s Oil Embargo, Oil Prices Drop Again
Benchmark European gas prices briefly jumped 21 percent to 119 euros per megawatt/hour, the highest in a week on the ICE Endex in Amsterdam after President Vladimir Putin said Russia would start demanding payments in rubles from “unfriendly” buyer countries, such as reported by Bloomberg, Wednesday (23/3/2022)
Russia has previously described the US, UK and European Union members as hostile countries.
The news comes just as the United States and its allies are expected Thursday to announce new sanctions on Russia aimed at “boosting Europe’s energy security and reducing Europe’s dependence on Russian gas”. However, Putin said Russia would continue to deliver supplies.
The European Union and the US are working on a deal aimed at ensuring supplies of liquefied natural gas and American hydrogen to EU member states as the bloc seeks to end its dependence on Russian energy.
Meanwhile, German Chancellor Olaf Scholz on Wednesday (23/3/2022) in front of the German parliament the Bundestag said Europe would end its energy dependence on Russia but doing so overnight would plunge Europe into recession, risking hundreds of thousands of jobs and entire sectors. industry, as reported Straits Times, Wednesday, (23/3/2022)
–
