President Vladimir Putin said Wednesday Russia will only accept payments in rubles for gas deliveries to “unfriendly countries”, which include all EU members, after Moscow was hit by unprecedented sanctions over Ukraine.
Immediately after his announcement, the ruble — which has plummeted since the start of the Ukraine conflict — strengthened against the dollar and euro, while gas prices rose.
“I have decided to implement a set of measures to transfer payment for our gas supplies to unfriendly countries into Russian rubles,” Putin said during a televised government meeting.
