On March 31, local time, Russian President Vladimir Putin signed a presidential decree, and the new rules for paying Russian natural gas in rubles to Russia's "non-friendly countries and regions" came into effect on April 1.
Gazprom Bank, as an authorized bank, opens a special account in rubles for payment of purchased natural gas by foreign parties upon the application of foreign buyers.
Putin said on the same day that the various risks arising from the use of US dollars and euros for natural gas transactions are unacceptable to Russia.
He emphasized that gas transactions are paid in rubles, which is an important step in the consolidation of Russia's fiscal and economic sovereignty.
Continuous and systematic progress in this direction will continue within the framework of a long-term plan to increase the share of settlements in foreign trade in the national currency and the currency of reliable partners.
(produced by Liu Peng)
Responsible editor: [Ye Pan]