On March 31, Russian President Vladimir Putin signed a decree allowing foreign customers to continue paying for Russian gas in rubles until the end of July 1.
The regulation takes effect immediately from April 1, aiming to maintain energy trade flows amid geopolitical tensions and financial sanctions from the West.
According to the decree announced on the government portal, payment transactions will continue to be processed through Gazprombank and some other Russian financial institutions. This is a central bank in processing gas payments in the Russian domestic currency.
The new move is seen as a continuation of the decision issued on December 8, 2025, which takes effect until April 1, 2026. The extension shows Moscow's efforts to stabilize oil and gas exports - a key source of revenue - while strengthening the role of the ruble in international payments.
In the past 2 years, the Russian gas payment mechanism has been continuously adjusted to adapt to sanctions, especially targeting Gazprombank. Previously, foreign customers were forced to convert foreign currencies into rubles through intermediary banks in Russia before paying suppliers - a process considered complex and costly.
However, from the end of 2024, Russia has allowed foreign companies to pay directly into the supplier's ruble account through a third party intermediary. This mechanism simplifies transactions, reduces the risk of supply disruption and creates more stable cash flow for the Russian side.
A noteworthy point is that the special "K" account system - designed specifically for foreign businesses - is still being suspended. Russia said that only when US sanctions against Gazprombank are lifted can this mechanism be reactivated under a new presidential decree.
Analysts believe that the ruble payment policy is not only technically significant, but also a strategic step by Russia in reducing dependence on Western currencies such as USD or euro.
Requiring customers to pay in domestic currency helps Moscow limit exchange rate risks, avoid payment disruptions due to sanctions, and increase the role of the ruble in international trade.
At the same time, the payment system through domestic banks helps Russia tightly control cash flow, ensuring that revenue from energy exports is not "stuck" in the global financial system.
In the context that the world energy market is still affected by conflicts and sanctions, the extension of the ruble payment mechanism brings certain stability to import partners.
Many countries, especially in Europe and Asia, are still significantly dependent on Russian gas for industrial production and civil consumption. Therefore, a clear, predictable payment mechanism helps businesses be more proactive in operating plans.
