Gas Russia, Italy pays in rubles? That’s why it can’t

“Paying Russian gas in rubles would mean circumventing the sanctions. There is no decision” by the government “but I think we will continue to pay for it in euros.” This was stated by the economist and advisor of Palazzo Chigi, Francesco Giavazzi, during the Italy Capital Markets Forum 2022 organized by Bloomberg. Russian President Vladimir Putin has instructed that gas sold by Russia be paid for in rubles, not euros or dollars. As for energy dependence on Russia, Giavazzi pointed out, “we are moving towards April and May, two months in which our country has enough renewable energy to bring gas imports to zero. This is a political issue – he said. explained – but at the best time of the year we should evaluate it “. Meanwhile, he added, in the plan that Italy will present to the European Council tomorrow, “a ceiling on gas prices is envisaged”.