Russia wants to expand ruble use for energy exports

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Russia is planning to increase the use of the ruble in energy exports, but no deadlines have been set for the payment switch, Kremlin spokesman Dmitry Peskov said on Friday.

“The president has set a methodical and step-by-step approach to expanding the use of national currencies,” Peskov told reporters in a conference call on Friday.

The statement comes after Russian President Vladimir Putin announced in late March that Russia would only accept payment for gas exports in rubles from countries deemed “hostile” by the Kremlin due to their sanctions policies.

Putin ordered the government to take necessary steps to switch all payments for gas sales to Russian currency from April 1. According to the Kremlin, the change concerns nations that introduced penalties against Russia with the intention of damaging the country’s economy, which includes most EU member states.

According to Peskov, it is too early to talk about deadlines and details concerning the expansion of the measure.

For more stories on economy & finance visit RT’s business section

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