The Kremlin said Friday that buyers of Russian natural gas still have time to work on paying Russia in rubles and said Moscow would not cut off its gas supply for now.
Russian President Vladimir Putin signed an order for “unfriendly” countries to pay for gas in Rubles starting Friday.
“I was asked a lot of questions whether this means that if there is no confirmation in roubles, then gas supplies will be cut off from April 1. No, it doesn’t,” Kremlin spokesman Dmitry Peskov said.
Under Putin’s plan, the buyers have to open a special account with Russia’s Gazprombank, so they can transfer foreign currency to the bank. Gazprombank would then purchase rubles on behalf of the buyer, which will be used for the gas deal.
The plan is possible because Gazprombank has not been targeted with sanctions as the Western measures have exemptions carved out for energy deals. The transactions made in rubles will protect the value of the Russian currency, which has already bounced back from the initial crash it took when Russia invaded Ukraine.
Peskov signaled that gas buyers still have a few weeks to comply with the order. “Payment for the actual deliveries that are going on now does not need to be made today. And it should be made somewhere at the end, in the second half of the month of April, or even at the beginning of May,” he said.
The EU has announced a plan to wean itself off Russian energy but is still incredibly reliant on it. Russian gas accounts for about 40% of the EU’s imports, and Europeans are preparing for gas rationing as the sanctions campaign against Russia continues to escalate.
14 thoughts on “Russia Not Cutting Off Gas Supply Yet, Buyers Have Weeks Before Paying in Rubles”
The pipes are turned off and they won’t be turned on until they start paying with Rubles
The article says just the opposite. You should start your own propaganda sheet, if actual news do not please you. I’ll be sure not to read it.
Millions of ordinary Russians will starve or become homeless, a not so smart tactic.
Sanctions against Russia, but the European common people pay the price. What’s wrong with this picture?
Neoliberal world order is tittering to their demise.
Gasprombank cannot be sanctioned on contractual agreement and another generous 30 day cushion for EU by Russia to get their act together….! Notice that they did not take Russia seriously when the Ruble for Gas was announced….! Now their gas will be cut off on May 1st for noncompliance…The real May Day for them…!
European elite followed American leadership with a great enthusiasm. Now everyone can see where we are. The future looks not good.
All I can say is, there’s gonna be some chilly Europeans next winter.
I’m sure they’ll thank Bye-Done for that.
Would love to see Russia shut off the gas to those krauts who got rich on cheap Russian gas for decades- Audi;VW , Mercedes BMW Basf etc. At least make the bas..s pay in gold until the payment mechanism is set up
The rulers of America also would like to have any economic cooperation between Germany and Russia, completely destroyed. So far, they are successful in that. The other great American success is the war between Russia and Ukraine.
Russia has cut off the UK as the UK did sanction Gazprombank. Gas to Germany from the Yamal-Europe line has been redirected away from Germany.
It works slowly, but by the next winter, Russian gas will be sold to EU by the rubles only. And, most likely, not only the gas, but also the oil, the metals, the wheat and many other goods too.
That means de-dollarization is in full gear….!
Not likely, Russia needs this income badly to feed its people.
Never threaten with something you can’t go through with, it just makes you look weak.
Again, just how sick is Putin really and how much are the drugs impairing his judgement?
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