Russian President Vladimir Putin demanded payment in rubles for the economic sanctions imposed on his country in response to Russia’s invasion of Ukraine. But the G7 refuses to pay for gas in rubles because there is no such thing in the trade agreement.
unanimous decision
German Economy Minister Robert Habeck informed about the decisions of the G7 group, namely France, Italy, Japan, Canada, Germany, Britain and the United States. According to him, payment in rubles would be a breach of contract.
“Ministers from all G7 countries unanimously agreed that such a request is a unilateral and clear violation of the current agreement. Payments in rubles are unacceptable and we will appeal to companies affected by this requirement not to comply,” Habeck said. , according to the AP agency.
It won’t work for free, Moscow responds
Asked whether Russia would cut gas supplies to Europe if it was not paid for in rubles, Kremlin spokesman Dmitry Peskov said on Monday he would not supply it for free, of course.
Habeck faces questions about what Berlin will do if Russia stops supplying gas. “We are prepared for all scenarios,” he replied, without elaborating on what the federal government wanted to do. He admits that he cannot give up his dependence on Russian gas this year. So it is possible that a game of nerves will follow, which will decide whether Russia will need more European money or Europe will need Russian gas.
Apart from requiring payments in rubles, Russia is also trying to agree on bitcoin payments with several countries. The BBC’s servers warn that Moscow’s efforts could be seen as an attempt to strengthen the ruble’s value. He has lost more than 20 percent of his value this year due to sanctions over the armed forces’ invasion of Ukraine.
Despite the sanctions, Russia remains the world’s largest exporter of natural gas and the world’s second largest oil supplier. Russia collects up to $880 million per day (19.7 billion crowns) per day for exported gas. Gazprom receives 58 percent of euros, 39 percent of US dollars and about three percent of British pounds for exported gas.
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