Putin: Russia to Sell Gas in Rouble to "Unfriendly Countries"

Russian President Vladimir Putin said on Wednesday that Russia will start selling gas to "unfriendly countries" in roubles, after the freezing of Russian assets by foreign countries hindered Moscow's confidence.

Putin indicated that the changes will affect only the payment currency and that the government and the central bank have one week to come up with a solution on how to transfer these operations to the Russian currency, according to Reuters.

Notably, European Union governments are currently considering whether to impose an oil embargo on Russia over its operation Ukraine in a series of summits designed to bolster the West's response to Moscow.

In an effort to force a military withdrawal from Ukraine, the EU - along with Western allies - has imposed a comprehensive set of sanctions including freezing the assets of the Russian Central Bank.

German Chancellor Olaf Scholz once again rejected calls for a boycott of Russian energy. He explained that the sanctions imposed on Russia are already harming its economy, "and this matter will become more severe every day."

Meanwhile, Scholz said the sanctions are designed to be "acceptable" to those who impose them, including in the long term. "This is why Germany's position on this issue regarding the energy boycott has not changed," he added.