Russia will only accept rubles for gas deliveries to ‘unfriendly countries’: Putin

Russia will start demanding payment for its natural gas shipments to states that it deems “unfriendly” in rubles, President Vladimir Putin said Wednesday at a meeting with the government.

“I have taken a decision to switch to ruble payments for our natural gas supplies to the so-called hostile states, stop using the compromised currencies in such transactions,” Putin said according to the Kremlin.

Putin ordered the Central Bank to develop a mechanism to make ruble payments within a week.

“At the same time, I want to emphasize that Russia will definitely continues to supply natural gas in line with the volumes and prices, pricing mechanisms set forth in the existing contracts,” Putin said.