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Following the G7, the EU refused to pay for gas in rubles


March, 29 2022
watermark Economic news

The European Union stated that it shares the position of the «Great Seven» countries on the issue of paying for Russian gas in rubles. A meeting of G7 energy ministers was held yesterday, at which it was decided to reject Russia's demand to pay for gas exports in Russian currency. 


«Deliveries should be made using dollars or euros as payment,» said Eric Mamer, a representative of the European Commission.


German Energy Minister Robert Habeck said that the authorities of the G7 countries considered unacceptable the requirement to switch to rubles in payment for gas and would urge companies not to comply with it. 


In response, Russian President Vladimir Putin's press secretary Dmitry Peskov said that Russia would not supply gas for free if Europeans refused to pay for it in rubles. At the same time, Peskov stressed that European gas buyers should take into account the changed situation in the world due to sanctions. And understand that «you just need to buy rubles for your currency – euro and dollar, and pay for gas with rubles.»


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.