Japan does not understand how Russia will execute ruble's payments for natural gas sold to 'unfriendly' countries – minister

YEREVAN, March 24, /ARKA/. Japan does not understand how Russia will execute ruble's payments for natural gas sold to unfriendly countries, Japanese Finance Minister Shunichi Suzuki said.

Japan accounted for 4.1% of Russia's crude oil exports and 7.2% of its natural gas exports in 2021.

"Currently, we're looking into the situation with relevant ministries as we don't quite understand what is (Russia's) intention and how they would do this," Shunichi Suzuki said in a parliament session, according to Russian Interfax news agency.

According to him, the government will closely monitor the "spillover effect" of Japan's sanctions imposed against Russia on the country's economy and financial markets, and take appropriate steps in coordination with the G7 countries and the international community.

Russia's President Vladimir Putin said on Wednesday that his country would seek payment in rubles for gas sales to "unfriendly" countries in retaliation for Western sanctions.

Russia currently exports about $10 billion worth of gas per month. According to the Russian Federal Customs Service, Gazprom exported $6 billion worth of gas to unfriendly countries in January. -0-