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Kremlin says Gazprom is working on ruble settlements for gas exports

Middle East

25-03-2022 | 08:40

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Kremlin says Gazprom is working on ruble settlements for gas exports

President Vladimir Putin has ordered Russian energy giant Gazprom GAZP.MM to accept payments for its natural gas exports in rubles and it must work out how that can be done in the next four days, the Kremlin said on Friday.

Kremlin spokesperson Dmitry Peskov said that Russia's largest producer of liquefied natural gas, Novatek NVTK.MM, had not been given such instructions.

Putin on Wednesday said Russia would seek payment in rubles for gas sold to "unfriendly" countries after the United States and European allies teamed up to impose sanctions on Russia aimed at forcing its withdrawal from Ukraine.

The move was met with dismay in Europe and many companies said contracts with Gazprom stipulated that payment should be made in either euros or U.S. dollars, not in Russian rubles.

REUTERS

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