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Russia's foreign ministry warned today that a series of global bankruptcies could occur if importers refuse to pay for Russian gas in rubles, BTA reported, citing Reuters.

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The Russian invasion of Ukraine

The ministry also said that Russia's withdrawal from the World Trade Organization (WTO) would be counterproductive. 

Von der Layen: We will not allow Russia to ask for rubles for gas supplies

Russian President Vladimir Putin has ordered Gazprom to accept only payments in rubles for natural gas supplies to "enemy countries."

The gas giant has only four days to decide how to transfer billions of dollars in rubles, the Kremlin said.

The Russian invasion of Ukraine

gas supplies

rubles

bankruptcies