Subscribe to The Daily Upside! (Free Business & Finance Newsletter) Vladimir Putin has demanded payment in roubles for Russian gas sold to “unfriendly” countries, setting a deadline of 31 March.
It is not clear whether he plans to tear up existing contracts that set the price in euros or dollars, but Germany, which relies on Russia for 40% of its gas supplies, is not taking any chances, warning large industrial gas users that a standoff is possible and rationing is one possible outcome.
In todays video we ask why payment for Russian exports in rubles has become a major issue for the Kremlin, and whether Putin could extend the plan to include exports of oil, grain, fertilizers, coal, metals and other key commodities.
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