On March 31, local time, Russian President Vladimir Putin announced that from April 1, “unfriendly countries” must open ruble accounts to purchase Russian natural gas, otherwise they may face the risk of supply cuts.
Although the new rules came into effect on April 1, Russia said that April gas deliveries should be paid in the second half of April and May, so Russia will not cut off gas supplies to Europe from April 1. . This gives European governments and companies a buffer to negotiate and prepare.
Although European countries can still buy Russian natural gas according to the original contract, under the influence of many uncertain factors, European gas prices continue to soar.
Energy experts pointed out that the “ruble payment order” is Russia’s strongest countermeasure to Western sanctions so far. This decision greatly boosted the Russian economy. After the outbreak of the Russia-Ukraine conflict, the exchange rate of the Russian ruble plummeted, but then rebounded from the trough and has recovered most of the lost ground.
Russia: No gas supply to Europe will be cut off from April 1. Click on the video to see what it is!