Putin allowed “unfriendly” countries to pay gas debts in foreign currency

President Vladimir Putin allowed gas buyers from “unfriendly” countries to pay debts for fuel supplies in foreign currency. The corresponding decree was published on the official portal of legal information.

After the start of the war with Ukraine, European countries began to gradually abandon Russian gas and introduced several packages of sanctions aimed at weakening the Russian economy. In response, Putin at the end of March demanded that “unfriendly” countries pay for natural gas in rubles. Germany and Italy agreed , Poland , Bulgaria, Finland, Lithuania and many others refused.

According to the amendments to the decree, after payment of debts in foreign currency, supplies will not be resumed if the buyer refuses to comply with the payment procedure established by the old document, that is, does not pay for gas in rubles. To pay debts, the Russian supplier must open a special account in the foreign currency specified in the gas supply contract.

On December 19, EU energy ministers agreed to buy Russian gas at a price no more than 180 euros per megawatt-hour. Earlier, the EU countries, G7 and Australia also decided to introduce a price ceiling of $60 per barrel for the purchase of Russian oil. The limit will be reviewed regularly depending on fluctuations in hydrocarbon prices.