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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

All Russia’s Big Exports Could Soon Be in Roubles, Kremlin Signals

Russian President Vladimir Putin meets with State Duma Speaker Vyacheslav Volodin, at the Novo-Ogaryovo state residence outside Moscow, Russia October 26, 2020. (Kremlin via Reuters)

The Kremlin indicated on Wednesday that all of Russia's energy and commodity exports could be priced in roubles, toughening President Vladimir Putin's attempt to make the West feel the pain of the sanctions it imposed for the invasion of Ukraine.

With Russia's economy facing its gravest crisis since the 1991 collapse of the Soviet Union, Putin on March 23 hit back at the West, ordering that Russian gas exports should be paid for in roubles.

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