Russian natural gas suppliers may settle with gas buyers from unfriendly countries in foreign currency if they collect debts for gas supplies from such buyers or if they repay the debt themselves, according to Russian President Vladimir Putin’s decree, published on Friday on the legal information portal, TASS reports.
The decree specifies that settlements can be made in a foreign currency, using a special account opened by an authorized bank on the basis of the application of the Russian supplier. Indebtedness for gas supplies will be considered as repaid after crediting the foreign buyer on such account.
At the same time, the document said that "the repayment of the foreign buyer's debt under the contract for the supply of natural gas is not a ground for resuming natural gas supplies by the Russian supplier in case the foreign buyer fails to comply with the procedure established by this decree".
