Payment for gas in currency, not in rubles: Putin turned on the reverse gear

Putin, despite loud statements made a few days ago, signed a decree that allows payment for gas supplied to the EU in foreign currency, and not in rubles, as previously stated.

The corresponding decree “On a special procedure for foreign buyers to fulfill obligations to Russian suppliers of natural gas” was published on the official website of the Kremlin.

According to this decree, foreign companies will make payments for the supplied volume of Russian gas as before, in dollars and euros, but to a special account “K”. Then the foreign currency will be sold on the Moscow Exchange MICEX – RTS, and the proceeds will be transferred to the ruble account ‘K’ from which the payment for natural gas will be made.

It should be noted that Western companies and state leaders announced that they refuse to pay for natural gas in rubles according to the original scheme proposed by Putin because, in their opinion, this is an attempt to circumvent the sanctions imposed on Russia because of the war in Ukraine.

Most likely, Russia’s Western partners will abandon this option with fraud on the Russian Currency Exchange.