Back: Putin changed the decree on gas payments for "unfriendly" countries

The Russian Federation will allow "unfriendly" countries to pay debts for natural gas supplies in foreign currency, according to amendments made by President Vladimir Putin to a previously issued decree, reports newssky.com.ua with reference to rferl.

The document states that Russian natural gas suppliers can settle with buyers from "unfriendly" countries in the foreign currency specified in the contract. (archive photo)

The document, published on December 30 on the Russian government's legal information website, states that Russian natural gas suppliers can settle with buyers from "unfriendly" countries in the foreign currency specified in the contract.

The debt for the supply of gas will be considered repaid after the foreign buyer's funds are credited to an authorized bank in which a special account is opened for receiving payments.

Putin signed a decree on payments for Russian natural gas in March, forced "unfriendly" European customers to open ruble bank accounts at Gazprombank and pay in rubles if they want to continue receiving Russian gas. This decree concerned only supplies from Gazprom.

Subsequently, supplies were stopped to some companies and countries, such as Poland and Finland, which refused the terms of the decree, which was seen as a means of stimulating demand for rubles after the United States and the European Union imposed tough economic sanctions against Russia for its invasion of Ukraine.

Putin's decree meant that buyers of Russian gas in Europe — all EU countries were classified as "unfriendly" — had to buy rubles on the Russian market to pay for supplies.

The President of the Russian Federation defended such a policy, declared that Western countries "revoked confidence in their currencies", imposed sanctions on Russia for the war against Ukraine.

According to the published information, the amendment announced on December 30, allowing to repay the debt, does not mean the automatic resumption of gas supplies.

Earlier, Putin instructed the Central Bank and the government to develop "the order of operations for the purchase of rubles on the domestic market of the Russian Federation by gas buyers."