The largest Russian petroleum company Gazprom, which is majority state-owned, is expected to activate measures to transfer payment for fuel in rubles starting on March 31. President Vladimir Putin announced last week that the country will refuse payments for Russian gas in foreign currency, including the dollar and the euro, as a measure to combat the hundreds of sanction measures imposed by the US, NATO, and their allies. Almost 60% of Russia’s international foreign currency reserves has been frozen due to the economic sanctions.
— Interés Económico (@interseconomico) March 28, 2022
To date, Gazprom has continued the sale of fuel to Europe without any change in supplies, and has accepted payment in euros. However, according to President Putin’s announcement, the “unfriendly” countries, which include the United States and countries of the European Union, must pay for Russian fuel in the Russian currency.
Dmitri Peskov, spokesperson of the Russian Foreign Affairs Ministry, said on Monday that, in the current situation, Russia cannot “devote itself to charity,” as it is “neither possible nor convenient” for Moscow, which faces more than 5000 sanction measures imposed by the West.
— Agence France-Presse (@AFPespanol) March 28, 2022
“We clarify that we are not going to supply free gas,” said Peskov during his daily press conference on Monday. “That we can say with certainty.”
According to various Western media outlets, the news has generated concern in Europe. Several countries have announced that they are not willing to pay for fuel in rubles.
Featured image: A refinery of Russia’s largest majority state-owned petroeum company Gazprom. File photo.
(RedRadioVE) by Patricia Ferrer
Translation: Orinoco Tribune