Russian President Vladimir Putin declared at a conference with the administration on Wednesday that Russia would only accept ruble payments for gas shipments to "unfriendly countries." This could indicate the resurgence of the Russian economy and the rise of the PetroRuble.
Putin announced on Wednesday that Russia intends to abandon all "compromised" currencies in gas purchase agreements. He went on to say that a number of Western countries' unlawful acts to seize Russia's assets had shattered all faith in their currencies. As a result, “unfriendly countries” will have to compensate for Russian gas in rubles, according to Putin.
“I have decided to implement in the shortest possible time a set of measures to change the payments for – yes let’s start with this – for our natural gas supplied to the so-called unfriendly countries in Russian rubles, that is to stop using all compromised currencies for transactions,” the Russian president said.
"It doesn't make sense ...