Russian President Putin to give a big blow to US dollar

Russian President Putin to give a big blow to US dollar

MOSCOW:

Russia plans to switch its gas sales to “unfriendly” countries to roubles,President Vladimir Putin said on Wednesday, responding to a freeze onRussia’s assets by foreign nations over events in Ukraine that he said haddestroyed Moscow’s trust.

European countries’ dependence on Russian gas and other exports has beenthrown into the spotlight since Russia sent tens of thousands of troopsinto Ukraine on Feb. 24 in what it called a special operation to degradeits southern neighbour’s military capabilities and root out people itcalled dangerous nationalists.

“Russia will continue, of course, to supply natural gas in accordance withvolumes and prices … fixed in previously concluded contracts,” Putin saidat a televised meeting with top government ministers.

“The changes will only affect the currency of payment, which will bechanged to Russian roubles,” he said.