Russian President Vladimir Putin said Thursday that according to a newly signed decree regarding natural gas trading with “unfriendly countries,” companies will need to have accounts in Russian banks and pay for contracts in rubles.
“Today, I signed a decree which sets the rules for trading in Russian natural gas with the so-called unfriendly states. We suggest that counter-parties in these countries use a very simple and transparent scheme in order to buy Russian gas they need to open ruble accounts in Russian banks, and payments should come from these accounts,” Putin said on Thursday.
The new rules take effect tomorrow, April 1.
“If these payments are not made, we shall deem this as non-performance on the part of the buyers and that will lead to consequences. Nobody gives us anything for free and we’re not about to be charitable,” Putin said, adding that active contracts will be suspended.
