Russia’s central bank and gas giant Gazprom are due to present their proposals for ruble gas payments to President Putin by Thursday.
29.3. 21:21
From Russia foreigners buying natural gas can simply obtain the rubles needed to pay for gas from the Moscow Stock Exchange, and no changes to the law are needed, says the Russian legislature.
President of Russia Vladimir Putin last week called on “hostile” countries to pay for gas supplies in rubles instead of euros. The gas market has since wondered how payments in rubles would in practice be made if Russian European customers agreed to ruble payments at all.
European countries generally pay for their Russian gas in euros and are of the opinion that Russia must not unilaterally change its agreements. The G7 countries rejected Putin’s demand this week.
Russian Chairman of the Duma’s Economic Policy Committee Anatoly Aksakov said on Tuesday to the Russian RIA news agency that the payment for gas in rubles does not require a change in legislation.
According to him, the arrangement has been incorporated into legislation.
“The currency will be exchanged at the market rate, which is determined by the Moscow Stock Exchange. They can buy it on the currency exchange from anywhere. They can buy rubles from anywhere, ”Aksakov told RIA, according to Reuters.
Russia’s central bank and gas giant Gazprom are due to present their proposals for ruble gas payments to Putin by Thursday.
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