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(Reuters) – Russian President Vladimir Putin on Monday ordered the creation of a working group on worldwide funds whose duties will embody determining phrases for transactions with “unfriendly” states.
Putin stated in March that Russia, the world’s largest pure fuel producer, would require nations it deems hostile to pay for gas in roubles by opening accounts at Gazprombank and making funds in euros or {dollars}, to be transformed into Russian foreign money.
Poland and Bulgaria refused to conform, and Russian power big Gazprom reduce them off final month. The Kremlin has stated the identical will occur to anybody else who rejects the brand new cost phrases.
The working group will give you “an infrastructure for worldwide funds, together with in Russian roubles, with buying and selling companions from international states and territories that perform unfriendly actions in opposition to Russia,” the order stated.
It can additionally look into cost phrases in roubles and different nationwide currencies with pleasant nations – which would come with China and India, though they weren’t named.
The group — which shall be led by presidential adviser Maxim Oreshkin and embody high officers resembling Central Financial institution Governor Elvira Nabiullina — can also be tasked with discovering measures to cut back the dangers related to the freezing of almost half of Russia’s $640 billion of international reserves.
Western nations have imposed sweeping sanctions in opposition to Russia for sending its troops into Ukraine on Feb. 24. Moscow says it’s finishing up a “particular army operation” aimed toward disarming Ukraine and ridding it of what it says are harmful nationalists.
Russia is imposing counter-sanctions and has authorized a listing of “unfriendly” nations together with america, Canada, Britain and European Union member states.
(Reporting by Reuters)
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