Putin Extends Ruble Payment Option for Foreign Buyers of Russian Gas

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Foreign buyers will continue to be able to pay for Russian gas deliveries in rubles through Russian credit institutions. This arrangement, which was set to expire on April 1, has now been extended until July 1, 2026, according to a decree by Russian President Vladimir Putin.

The amendments were made to the March 31, 2022 decree titled "On a Special Procedure for the Performance of Obligations by Foreign Buyers to Russian Natural Gas Suppliers." The updated version allows buyers from unfriendly countries (countries that have imposed sanctions on Russia) to make payments for Russian gas in rubles through Russian credit institutions, not exclusively through Gazprombank.