Putin wants ‘unfriendly countries’ to pay rubles for gas

The Associated Press

MOSCOW (AP) — President Vladimir Putin announced that Russia will demand “unfriendly” countries pay for Russian natural gas exports only in rubles from now on. Putin told a meeting with government officials Wednesday that “a number of Western countries made illegitimate decisions on the so-called freezing of the Russian assets, effectively drawing a line over reliability of their currencies, undermining the trust for those currencies.” Economists said the move appeared designed to try to support the ruble, which has collapsed against other currencies since Putin invaded Ukraine and Western countries responded with far-reaching sanctions against Russia. But some expressed doubt that it would work.