No final decision on rubles-for-LNG plan, says Kremlin
The Kremlin is yet to make a decision on whether to require buyers of Russian LNG to make payments in rubles, spokesman Dmitry Peskov told reporters on July 5.
Under an end of March decree issued by the Kremlin, buyers of pipeline gas from Russia in so-called "unfriendly states" that have armed Ukraine and have supported sanctions against Russia, must pay for their supplies in rubles. Specifically, they must transfer their foreign currency-denominated payments to Gazprombank, for conversion into rubles before being sent to Gazprom.
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Gazprom deputy department head Kirill Polous was quoted as saying on July 5 that the gas company had proposed expanding the rubles requirement to cover LNG. However, Peskov said in a daily conference call that "currently no decisions have been taken in this regard and there are no prepared orders."
Most of Gazprom's customers in Europe have abided by the Kremlin's decree. Those that did not, including buyers in Bulgaria, Denmark, Finland, Germany, the Netherlands and Poland, had their supply cut off.