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Tag Archives: rubles

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Russia demands rubles for grain exports

The Russian government has added grain, sunflower oil and extracted meal to the list of exports that must be paid for in rubles. A resolution giving effect to the decision was adopted on Friday and published on the official portal of legal information. It also provides for a one-year extension of …

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Russia pays sovereign debt in rubles

Russia’s Finance Ministry announced on Thursday it has settled two issues of dollar-denominated Eurobonds “in full” by sending 12.51 billion rubles ($234.5 million) in coupon payments to the National Settlement Depository (NSD). It’s the first payment made under a new mechanism, which enables transactions in rubles. According to the ministry, …

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Kremlin evaluates gas-for-rubles strategy

Russian gas buyers that have refused to pay in rubles have already been cut off from supplies, Kremlin Press Secretary Dmitry Peskov said on Thursday, adding that no new cuts have been planned. “They have already been turned off… The system is working, the system has been adjusted,” he told …

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Putin orders copyright royalties in rubles

Russian President Vladimir Putin has signed a decree stating that certain foreign copyright holders may be paid in rubles, expanding on previous counter-measures against companies based in “unfriendly countries” that are currently imposing sanctions on Moscow.  Published on a government website on Friday, the executive order extends the existing special …

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Russia to pay foreign debt in rubles

Moscow plans to make foreign debt payments in rubles, Russian State Duma Speaker Vyacheslav Volodin said on Wednesday. This comes after the US blocked Russia from servicing its debt to American bondholders. Volodin added that the country has all the necessary monetary resources for payments. “The US and the satellites …

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Germany, Italy agree to pay for Russian gas in rubles – media

Germany and Italy have allowed national companies to open ruble accounts in Russia’s Gazprombank to comply with the new natural gas payment scheme and avoid a supply cut-off, Reuters reported on Friday, citing sources. The move comes after Poland, Bulgaria and most recently Finland refused to accept Russia’s new payment …

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Half of Russia’s gas buyers agree to pay in rubles – Novak

Approximately half of Russia’s 54 gas importers have opened ruble accounts with Gazprombank in compliance with Moscow’s newly introduced payment rules, Deputy Prime Minister Alexander Novak said on Thursday. “According to my information, about half [of the buyers] have already opened special accounts in our authorized bank – in foreign …

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10 EU countries quietly buying gas with rubles, Hungary says

While multiple European leaders have publicly proclaimed they won’t buy Russian gas in rubles as Russian President Vladimir Putin has demanded, 10 EU countries are technically going along with Putin’s plan, Hungarian official Gergely Gulyas told public radio on Sunday. According to Gulyas, these countries’ leaders aren’t admitting this in …

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Four EU buyers made gas payments in rubles – media

Four European countries have already made gas payments to Russia using Moscow’s new ruble-based mechanism, Bloomberg reported on Wednesday citing a source close to Russian gas exporter Gazprom. Also, according to the publication, at least 10 countries have set up ruble accounts with Russia’s Gazprombank, through which the payments for …

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