Russia's "ruble settlement order" came into force

Russian President Vladimir Putin signed a presidential decree on March 31 on "unfriendly" countries and regions to settle gas trade in rubles, and the new regulations took effect
on April 1.
European leaders have said they will not comply with the rules, insisting that Russia's move violates the terms of the contract and sanctions
.

To buy Russian gas, "unfriendly" countries and regions must open a ruble account
with a Russian bank.
If the buyer refuses to pay in this way, the Russian side will consider the buyer in default, all the consequences shall be borne by the buyer, and the Russian side will interrupt the supply of
natural gas.

Russian energy plays an important role in the energy needs of European countries, and about 40% of the natural gas required by the European Union is imported from Russia, settled
in euros and dollars.

The Russian News Agency quoted a senior official of the Russian Foreign Ministry as saying on April 1 that Russia would respond to
EU sanctions.
"EU (sanctions) actions will not go unanswered all the time .
.
.
Irresponsible sanctions in Brussels have had a negative impact on
the daily lives of ordinary Europeans.
”

Russian State Duma President Vyacheslav Volodin said on March 30 that after natural gas, ruble-settled commodities should be expanded to crude oil, grains, metals, fertilizers, coal and wood
.

According to the Associated Press, European governments rejected Putin's "ultimatum," saying they would continue to pay for natural gas imports from Russia in euros and dollars, and wanted to see the details
of how Russia would enforce its decree.

The leaders of Italy and Germany, which are big importers of Russian natural gas, said on March 30 that they had received assurances
from Putin about gas supplies.

Unlike the US ban on Russian energy imports, given its dependence on Russian natural gas, the 27 EU member states are currently divided
on whether to expand sanctions to the Russian energy sector.

The European Commission proposed on March 8 an energy transition plan that seeks to gradually wean itself off Russian fossil fuels by 2030
.
If this plan is implemented, it is expected to reduce EU gas demand for Russian gas by two-thirds by the
end of this year.