Ukraine’s Friends Refuse to Pay Russia Rubles for Gas. What Could Come Next.


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The Kasimovskoye underground gas storage facility operated by Gazprom, in Kasimov, Russia.


Andrey Rudakov/Bloomberg

Vladimir Putin was rash enough to invade Ukraine. Could he double his bet by cutting Russian natural gas exports to Ukraine’s supporters in Europe? It doesn’t look like it, for the moment.

Russia’s leader launched his latest stare-down with the West a week ago, announcing that “unfriendly states” would have to start paying for their gas in rubles, not euros or dollars. His unfriendly counterparts across the European Union duly refused.

Putin’s…