MOSCOW: Russian President Vladimir Putin has instructed economists to set up a working group on the terms of trade deals with various states.
The task force’s task is to set the terms of trade with states that do not have friendly relations with Russia. Putin called on experts to work on trade payments with allies and “unfriendly” states.
Putin said in March that Russia, the world’s largest producer of natural gas, would demand that those countries open an account at Gazprom Bank to pay for fuel in rubles and in euros or dollars. Make a payment and convert it into Russian currency.
Poland and Bulgaria have refused to comply, after Russian energy giant Gazprom cut ties last month. The Kremlin has said that the same will happen to any other country that rejects the terms of payment.
The order said the working group would set up an infrastructure for international payments, including the Russian currency ruble, with foreign and regional trading partners operating against Russia.
The working group will also consider payment terms in ruble and other national currencies with friendly countries, including China and India, although their names have not been released.
The group, led by presidential adviser Maxim Oreshkin and includes top officials such as central bank governor Elvira Nabiolina, is tasked with mitigating the risks associated with freezing nearly half of Russia’s 40 640 billion in foreign reserves. Has also been assigned.