Putin tells Europe: pay in roubles or we'll cut off your gas
March 31, 2022
BERLIN/LONDON, March 31 (Reuters) - Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Berlin said amounted to "blackmail".
Putin said buyers of Russian gas "must open rouble accounts in Russian banks. It is from these accounts that payments will be made for gas delivered starting from tomorrow," or April 1.
"If such payments are not made, we will consider this a default on the part of buyers, with all the ensuing consequences. Nobody sells us anything for free, and we are not going to do charity either - that is, existing contracts will be stopped," he said in televised remarks.
Putin said the switch to roubles would strengthen Russia's sovereignty. He said the West was using the financial system as a weapon, and it made no sense for Russia to trade in dollars and euros when assets in those currencies were being frozen.
"What is actually happening, what has already happened? We have supplied European consumers with our resources, in this case gas. They received it, paid us in euros, which they then froze themselves. In this regard, there is every reason to believe that we delivered part of the gas provided to Europe practically free of charge," he said.
"That, of course, cannot continue," Putin said
Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Germany said amounted to "blackmail".
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