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Russia intends to increase settlements in national currencies — Putin

The Russian President drew attention to the fact that many traditional suppliers of energy resources to the world market are also already talking about diversifiying settlement currencies

MOSCOW, March 31. /TASS/. Russia intends to increase the share of settlements in national currencies and the currencies of countries that are reliable partners, Russian President Vladimir Putin said on Thursday.

"We will continue to consistently and systematically move in this direction [strengthening the country's financial and economic sovereignty] as part of a long-term plan, to increase the share of foreign trade settlements in the national currency and the currencies of the countries that are reliable partners," he said.

Putin drew attention to the fact that many traditional suppliers of energy resources to the world market are also already talking about diversifiying settlement currencies.

"I would like to repeat - Russia values its business reputation. We comply and will continue to comply with obligations under all contracts, including gas contracts, we will continue to supply gas in the established volumes - I would like to emphasize this - and at prices determined in existing, long-term contracts," he added.

Russian President Vladimir Putin earlier signed presidential decree on rules of gas trade with unfriendly states. "I have signed today the decree establishing rules of Russian natural gas trading with the so-called unfriendly states," he said.

The President noted that Western countries that are unfriendly to Russia will have to open accounts in ruble in Russian banks to pay for gas. "We offer contractors from such [unfriendly to Russia] countries a clear and transparent mechanism: in order to purchase natural gas from Russia, they must open ruble accounts in Russian banks. Payments for the supplied gas will be made from these accounts, starting from tomorrow, April 1," Putin said.