Vladimir Putin announced that Russia will only accept payments in rubles for the gas it sells to Europe

FILE PHOTO: Russian President Vladimir Putin attends a ceremony marking the formal launch of the TurkStream pipeline which will carry Russian natural gas to southern Europe through Turkey, in Istanbul, Turkey, January 8, 2020. REUTERS/Umit Bektas/File Photo

Russian President Vladimir Putin announced Wednesday that the country will refuse payment of Russian gas in foreign currency, including the dollar and euro, and that it will charge supplies to “unfriendly” countries only in rubles.

“I have decided to implement as soon as possible a series of measures to transfer payments for our natural gas by the so-called unfriendly countries in rubles,” he said at a meeting with members of the Russian government.

On March 8, the Russian Government adopted a list of unfriendly countries and territories, which includes the US and Canada, all member countries of the European Union (EU), the United Kingdom, Ukraine, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway. San Marino, North Macedonia, Japan, South Korea, Australia, Micronesia, New Zealand, Singapore and Taiwan.

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