Peskov called the conditions for reversing Putin’s decision to pay for gas in rubles

Dmitry Peskov, a spokesman for the Russian president, said in the context of Vladimir Putin’s decision to pay for Russian gas supplies to unfriendly countries in rubles that it could be canceled if “other conditions arise.” According to him, “there is nothing reinforced concrete” in this issue.

“It simply came to our notice then. If other conditions come, ”Peskov said in response to a journalist’s question whether it was possible to overturn the president’s decision to pay for gas in rubles under certain conditions. “That is, there is nothing reinforced concrete in this case, but in the current conditions, rubles are the most preferable and reliable option for us,” he added.

At the same time, Peskov stressed that it does not follow from Putin’s decree that gas supplies will be cut off from April 1 in the absence of confirmation from counterparties from unfriendly countries about payment in rubles. “Payment for the supplies that are going on now should not be made today, but should be made in late – the second half of April or even early May. In fact, the corporation will work with its customers, “Peskov said, adding that he needed to contact Gazprom to clarify the nuances.

On March 31, Putin signed a decree converting gas bills with unfriendly countries into rubles. The new payment scheme involves the opening of a ruble account by buyers in a Russian bank to pay for supplies from April 1. According to the document, the countries-buyers from the list of unfriendly will have to open special currency and ruble accounts in Gazprombank and subsequently charge for foreign currency supplies. After that, Gazprombank sells the currency received on the account at the Moscow Exchange auction on the basis of the buyer’s order and credits the proceeds in rubles to the ruble account of the buyer, from which they are transferred to the account of the supplier company.

In a conversation with German Chancellor Olaf Scholz, Vladimir Putin explained that the decision was made due to unilateral sanctions and the freezing of the Central Bank’s foreign exchange reserves in the West. Restrictions, among other things, affected about half of Russia’s international reserves – about $ 300 billion of them were virtually frozen. The country’s access to the dollar and the euro has also been limited.

The European Union and the G7 countries have previously refused to pay for gas in rubles, calling it a breach of existing contracts, which were mostly in euros and dollars. European Commission President Ursula von der Leyen called Putin’s decision an attempt to circumvent EU sanctions. European Commission spokesman Eric Mamer said the EU also refused to pay for gas in rubles.

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