Ukraine War: Putin demands payment in roubles for Russian gas supplies

Synopsis

In a significant shift, Russian officials announce that starting April 1, payments for Russian gas supplies must be made in roubles. This decision comes in response to the freezing of Euro accounts by Western countries, which has led to concerns about honoring existing contracts. Russian authorities argue that the financial system of Western nations is being weaponized, making it impractical to use their currencies. They claim that some gas delivered to Europe has effectively been provided free of charge due to these financial restrictions. The move to demand rouble payments is framed as a step towards enhancing Russia's financial sovereignty and is part of a broader strategy to increase the use of national currencies in international contracts. This shift reflects ongoing tensions between Russia and Western nations regarding energy supplies and financial transactions.