Putin clears foreign currency settlements for gas debt

Russia will allow countries to pay debt settlements for gas supplies in a foreign currency, according to changes made by President Vladimir Putin on Friday to his earlier decree on rouble payments for gas.

The document also clarifies that the debt settlement does not automatically mean the resumption of gas supplies. It also does not alter the previously stated requirements for a foreign buyer of Russian gas to pay for it in roubles.

Putin signed the decree in March, forcing European customers to open rouble bank accounts with Gazprombank and pay in Russian currency if they wanted to continue receiving Russian gas.

Supplies were subsequently cut off to some companies and countries, such as Poland and Finland, that refused the terms of the deal.