How Russia demanding gas payment in rubles will affect the Middle East
Germany is considering buying gas from Qatar amid the war in Ukraine and the United States has been pushing the Gulf state to send more gas to Europe.
Russian President Vladimir Putin announced today that Russia will accept gas payments in rubles and not euros or dollars. Putin said the stipulation applies to an unspecified list of “unfriendly” countries, the official TASS news agency reported.
The decision targets European countries that are supporting Ukraine politically and militarily in response to the Russian invasion. Putin may also be trying to force European countries that sanctioned Russia’s central bank to do business with the institution, according to The Moscow Times.
Putin added that the measure will come into effect “within the shortest possible time,” according to TASS. Europe receives around 40% of its natural gas from Russia.
Why it matters: Russia is one of the largest gas exporters in the world, along with Qatar, the United States and Australia.
