Russia says it will not yet cut off gas supplies to Europe

Russia has said it will not cut off gas exports to Europe yet in a standoff over its demand to be paid in rubles.

Russian president Vladimir Putin signed a decree on Thursday stating buyers must pay in rubles through Russian bank accounts from Friday.

The Kremlin said this would not affect shipments which were already paid for, with payments for deliveries after 1 April due in mid-April at the earliest.

“Does this mean that if there is no confirmation in rubles, then gas supplies will be cut off from 1 April? No, it doesn’t, and it doesn’t follow from the decree,” Kremlin spokesperson Dmitry Peskov said.

The EU said it was talking to energy companies about how to pay for gas. Unlike the US and Canada, the EU has not placed bans on oil or gas, as its member nations are heavily reliant on it.

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