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Russia is developing simple, feasible mechanism to pay for gas in rubles — Kremlin

According to Dmitry Peskov, the purpose now is to "make this system simple, understandable, transparent and feasible for respected European and international buyers"

MOSCOW, March 29. /TASS/. Russia is developing a mechanism to pay for gas in rubles, which will be understandable and feasible, Kremlin spokesman Dmitry Peskov told reporters on Tuesday.

He recalled that President Vladimir Putin instructed the relevant agencies to submit proposals on arranging payments for gas in rubles for unfriendly countries by March 31.

"All details are now being developed to make this system simple, understandable, transparent and feasible for respected European and international buyers," Peskov said.

"Russia has been, remains and means to remain a reliable energy supplier, and Russia is interested in selling its gas," he said.

"We are not just interested, we are confident that we have the best gas to offer on the market in terms of delivery pace, price, and reliability," Peskov stated.

On March 23, Russian President Vladimir Putin ordered to transfer settlements for Russian gas supplies to unfriendly states into rubles. He said Moscow would refuse to accept payment under gas contracts with those states in "compromised" currencies, including dollars and euros. He ordered the government to instruct Gazprom to make the necessary changes to existing contracts. The Finance Ministry and the Central Bank were instructed to set the procedures for purchasing rubles on the domestic market by the buyers of Russian gas.

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