On Thursday, March 24, Pavel Zavalny, Chairman of the Russian State Duma Committee on Energy, announced terms of payment for countries that want to buy oil and gas from Russia. It is an extension of the Russian government’s earlier statement to “unfriendly countries” (addressed to most European Union member states) that they should pay for their energy in rubles or gold.

The US sanctions

Both announcements from Moscow are part of a response to the Biden administration’s White House fact sheet, which said the US will impose sanctions on Russia. In essence, US sanctions were designed to impose export controls to hamper imports from Russia, prevent Russian banks from completing transactions with Western companies, and prevent access to Russian financial assets held at Western financial institutions.



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