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Kremlin says Russia won’t demand immediate switch to ruble for gas payments

The Alarabiya English reported, citing Reuters, the Kremlin said on Wednesday that Russia will not immediately demand that buyers pay for its gas exports in rubles. It promised a gradual shift and saying Russia should work on an idea to widen the list of its exports requiring ruble payment.
President Vladimir Putin issued an order last week for Russian gas, which accounts for 40 percent of European needs, to paid for in rubles instead of dollars or euros.
Earlier on Wednesday, Russia’s top lawmaker Vyacheslav Volodin said the European Union would have to pay in rubles if it wanted Russian gas and said oil, grain, metals, fertilizer, coal and timber exports could be priced the same way.
The government, the central bank and Gazprom are due to present proposals for the switch by Thursday.

Asked whether the payments should be in rubles starting from Thursday, Kremlin spokesman Dmitry Peskov said: “Absolutely no.”
He said: “As we discussed before, payments and delivery is a time consuming process ... This does not mean that a tomorrow’s delivery should be paid (in rubles). From a technological point of view, this is a more prolonged process."
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Putin’s order to charge “unfriendly” countries in rubles for Russian gas boosted the Russian currency after it plunged to all-time lows when West imposed sweeping sanctions on Moscow for its invasion of Ukraine. European gas prices also rocketed up.
The Russian demand has been rejected by European countries, which pay for Russian gas mostly in euros and say Russia is not entitled to redraw contracts, and by the G7 group of nations.
Commenting on the Russian ruble plan, Anatoly Aksakov, head of the financial committee in Russia’s lower house of parliament, said this week: “I believe we don’t have to change the law, it’s all stipulated there.”
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He said: “The foreign currency will be exchanged at a market rate, which will be set at the Moscow Exchange, adding that "They can buy the rubles wherever.”
Source: alarabiyaenglish
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BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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