UPDATE 1-Gazprom has 4 days to work out rouble payments for gas exports – Kremlin says

By Reuters

Russian President Vladimir Putin has ordered Gazprom to accept payment in roubles for its natural gas exports to Europe and the gas behemoth has four days left to work out how to move over billions of dollars in sales, the Kremlin said. After the West imposed sanctions on Russia over the conflict in Ukraine, Putin on Wednesday fired the first major salvo of Moscow's response to what the Kremlin casts as a declaration of economic war against the world's biggest nuclear power. Putin said that Russia, which supplies 40% of Europe's gas, would expect payment for natural gas in roubles, one of the sharpest turns in Russian energy politics since the Soviets built gas pipelines to Europe from Siberia in the early 1970s.

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