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Russia to clarify terms of ruble payment for gas as it contacts buyers, says Kremlin

On March 23, President Vladimir Putin said that Russia would refuse to accept payment for natural gas supplies in "compromised" currencies, including dollars and euros

MOSCOW, March 24. /TASS/. Russia will clarify the terms of payment for gas in rubles during its contacts with buyers, Kremlin spokesman Dmitry Peskov told reporters on Thursday.

"Yesterday, President [Vladimir Putin of Russia] instructed [the relevant agencies] to hammer out a mechanism within a week and create conditions so that this payment can be made in rubles. As soon as we contact gas buyers, we will clarify the conditions for paying in rubles and they will be able to formulate their position," the Kremlin spokesman said.

"Let's wait until that moment," he added, answering a question as to whether European buyers would regard the decision to settle in rubles as a breach of contract.

On March 23, President Vladimir Putin said that Russia would refuse to accept payment for natural gas supplies in "compromised" currencies, including dollars and euros, and would switch to payments in rubles. According to him, after Russia's payments for gas with unfriendly countries are converted into rubles, foreign consumers should have options to carry out the necessary operations.

The head of state stressed that future changes in gas contracts with unfriendly countries will only affect the currency of payment, since it will be changed to the Russian ruble.