Skip to content
Home » GERMAN NEWS » Putin backs down on plan to convert gas payments to rubles

Putin backs down on plan to convert gas payments to rubles

Russia’s president Vladimir Putin issued a statement that Russia will not immediately demand that its gas exports be paid immediately in Rubles.

Vladimir Putin issued a statement that Russia will not immediately demand that its gas exports payments be paid immediately in Rubles.

Putin said that the process will be a gradual change and that Russia should work on an idea to expand on the list of its exports that must be paid in rubles.

The Russian president has made an announcement earlier that all gas products ad gas would be paid for in rubles and has also instructed is government to switch gas payments to rubles starting next month.

Most EU countries had expected that the leader would make sure his declaration comes into effect come April.

READ MORE: Panic strikes EU after Putin makes declaration – ‘hostile’ countries to pay for gas in rubles

Spiegel wrote that, On Thursday, the government, the central bank and the gas company Gazprom are to present their proposals for the changeover. When asked whether it was necessary to pay in rubles on Thursday, Kremlin spokesman Dmitry Peskov said: “Absolutely no.” Payment and delivery are time-consuming processes, he explained.

Source: Spiegel