A demand that Russia be paid in rubles for its natural gas exports appears to be driven by a mix of domestic and geopolitical factors that go beyond strict economic concerns, experts say.
Western sanctions enacted since Russia’s invasion of Ukraine on Feb. 24 have put sustained pressure on its economy. But the war hasn’t halted Russia’s natural gas exports to Europe — nor the wider continent’s dependence on them.
That intertwined relationship is at the crux of the recent demand from Russian President Vladimir Putin for “unfriendly” countries to pay for their gas in rubles.
“This is an unorthodox gambit that hinges on European reliance on Russia’s natural gas exports,” Eswar Prasad,
