G7 REJECTS RUSSIA’S DEMAND FOR GAS, OIL PAYMENTS IN RUBLES

Mon 28 March 2022:

The G7 group of the world’s major economic powers on Monday rejected Russia’s demand that they should pay their gas and oil purchases with rubles.

“This is not acceptable and we ask the companies concerned not to comply with Russian President Putin’s request,” German Economy Minister Robert Habeck told reporters in Berlin, after hosting a videoconference meeting with his G7 counterparts.

“All the ministers have fully agreed that this is a unilateral move and a clear breach of the existing contracts,” he said.

Russian President Vladimir Putin instructed the government last week to switch to rubles in payments for energy supplies to “unfriendly countries” – nations asthat have hit it with sanctions following its war on Ukraine.

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