Russian President Vladimir Putin attends a meeting with Artyom Joga, father of the commander of the pro-Russian military unit of the Sparta Battalion Vladimir Joga, who died in the conflict in Ukraine after a Victory Day parade marking the 77th anniversary of Nazi Germany’s victory in World War II. World War, Moscow, Russia, May 9, 2022. Sputnik / Mikhail Metzel / Pool through REUTERS
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May 9 (Reuters) – Russian President Vladimir Putin on Monday ordered the creation of a working group on international payments, whose tasks will include setting conditions for transactions with “enemy” countries.
Putin said in March that Russia, the world’s largest natural gas producer, would require countries it considers hostile to pay for fuel in rubles by opening accounts with Gazprombank and making payments in euros or dollars to converted into Russian currency.
Poland and Bulgaria have refused to comply, and Russian energy giant Gazprom cut them off last month. The Kremlin has said the same will happen to anyone else who rejects the new payment terms.
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The working group will set up “an infrastructure for international payments, including in Russian rubles, with trading partners from foreign countries and territories that are hostile to Russia,” the order said.
He will also discuss terms of payment in rubles and other national currencies with friendly countries – which will include China and India, although they have not been specified.
The group, which will be led by presidential adviser Maxim Oreshkin and will include senior officials such as central bank governor Elvira Nabiulina, is also tasked with finding measures to reduce the risks of freezing nearly half of Russia’s $ 640 billion foreign reserves. .
Western countries have imposed broad sanctions on Russia for sending troops to Ukraine on February 24. Moscow says it is conducting a “special military operation” aimed at disarming Ukraine and freeing it from dangerous nationalists, she said.
Russia has imposed counter-sanctions and approved a list of “hostile” countries, including the United States, Canada, Britain and European Union member states.
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