Vladimir Putin has given Europe an ultimatum: no roubles, no gas.
On Thursday, the Russian president signed a decree stating that nations deemed “unfriendly” must start paying for gas deliveries from April onwards in roubles, using a rouble account at Gazprombank, or Moscow will stop supplies.
In retaliation for western sanctions blocking access to half of his country’s foreign reserves, Putin in effect aims to force the west to breach its own rules by having to interact with the central bank and its banking system.
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