Putin instructed Gazprom to report on measures to sell gas for rubles

The regulator, the government and Gazprom will report to the head of state on a monthly basis. Putin ordered to transfer payment for gas for unfriendly countries into rubles on March 23 alt=”Putin instructed Gazprom to report on measures to sell gas for rubles” />

Government, Central Bank and Gazprom must submit to Russian President Vladimir Putin a report on changing the currency of payment for gas supplies to “unfriendly” states by March 31, according to the list of instructions of the head of state following a meeting with members of the government.

“To the Government of the Russian Federation, together with the Bank of Russia and the public joint-stock company Gazprom, implement a set of measures to change the currency of payment for natural gas supplies to the countries of the European Union and other countries that have introduced restrictive measures against citizens of the Russian Federation and Russian legal entities, to the Russian ruble,— said in the document.

The deadline for the execution of the order is March 31, then the government, the Central Bank and Gazprom must report to the President on a monthly basis. Prime Minister of Russia Mikhail Mishustin, head of the Central Bank Elvira Nabiullina and CEO of Gazprom were appointed responsible for the implementation of the order. Alexey Miller.

Putin ordered the transfer of gas payments for those included in the list of unfriendly countries into rubles on March 23. He explained the decision by plans to abandon “self-compromised” currencies. Russia made payments for gas with unfriendly countries in dollars and euros.

At the same time, the president emphasized that the changes will affect only the currency of payment and will not affect the process of gas transportation itself. Russia will supply natural gas to these countries in accordance with the volumes and pricing principles set out in previously concluded contracts, he said.

The President asked the government to instruct Gazprom to amend existing contracts. The Central Bank had to determine the procedure for paying for gas in rubles.

The authorities determined the list of countries unfriendly to Russia on March 7 and approved the procedure for conducting transactions with them under sanctions. All transactions and operations of Russian companies with citizens and firms of these states must be approved by the government commission for the control of foreign investment. They were allowed to pay off foreign currency obligations to foreign creditors only in rubles.

The list of unfriendly countries includes:

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