Russia will not give gas to any country which is not a friend without transaction through ruble from tomorrow 1st April. The announcement was made by Russian President Vladimir Putin.
President Putin made the announcement on Thursday, according to a BBC report.
Vladimir Putin said that in order to buy natural gas from Russia, foreign buyers must transact in Russian currency. Even for foreign exchange transactions, you have to open a special account in a Russian bank from April 1. Russian banks will then use it to buy rubles. It will then be used in the form of bills.
He further said that if such money was not transacted then it would be considered as disqualification for the buyers.
"No one is selling anything to us for free, and we are not doing charity," Putin said. All ongoing contracts will be closed.
It should be noted that one of the driving forces of the European Union's economy, countries like Germany and Italy, depend on Russian gas.
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