Russia to extend ruble payment system beyond gas

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Russia has implemented ruble payment system for its gas exports. Photo: Russia Bussines Today

Jakarta, IO – After implementing ruble payment scheme for its gas exports, Russia seek to expand it to other commodities, according to Kremlin spokesperson Dmitry Peskov. This is part of Russia’s retaliatory measure against Western sanctions.

“I have no doubt that it will be extended to a new group of commodities,” Peskov said on Monday (4/4).

He said the west’s decision to freeze US$300 billion of Russian central bank reserves was a robbery that would hasten the move away from US dollar and euro as global reserve currencies.

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Peskov also said Russia is seeking a new system to replace the Bretton Woods global financial architecture established by Western powers in 1944.