Home » Russia’s invasion of Ukraine: Five things to know about Putin’s gas ‘ruble settlement’ – BBC News

Russia’s invasion of Ukraine: Five things to know about Putin’s gas ‘ruble settlement’ – BBC News

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Russia’s invasion of Ukraine: Five things to know about Putin’s gas ‘ruble settlement’ – BBC News

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EU countries rely heavily on Russia for energy, and even during the Cold War, the former Soviet Union did not interrupt its energy supply to Europe.

More than a month after Russia’s military invasion of Ukraine, Russian President Vladimir Putin signed an order on March 31 stipulating that “non-friendly countries and regions” to Russia must pay Russian gas in rubles from April 1.

The move is seen as the latest step in Putin’s efforts to boost the ruble to hedge against the impact of economic sanctions. After Russia invaded Ukraine, it was subject to widespread sanctions from Western countries, and the ruble depreciated sharply.

Regarding Putin’s natural gas “Ruble Settlement Order”, BBC Chinese sorted out five highlights:

1. What does Putin’s settlement order say?

The presidential decree signed by Putin requires that from April 1, companies from “non-friendly countries” to Russia should first open a ruble account in a Russian bank, and then pay for Russian gas purchases through this account. Otherwise, it will be regarded as a breach of contract by the Russian side, and Russian suppliers will stop supplying natural gas.

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