Kremlin: No Orders Planned On Switching LNG Sales To Roubles

Wires reporting comments from the Kremlin stating that there are no presidential orders planned on switching Russian LNG sales to roubles.

• Earlier today, Reuters reported that a senior managed at Gazprom suggested a potential switch, in a similar scenario to payments made for gas supplies via pipelines.
• Japan and South Korea are two major importers of Russian LNG, with the suggestion of paying in roubles likely to raise red flags in Tokyo and Seoul.
• The speculation comes after Russia moved to nationalise the Sakhalin-2 LNG plant, threatening the stakes of both European and Japanese investors in the project.
• Japan and South Korea have so far sided largely with the West in imposing sanctions on Russia following its invasion of Ukraine (although the measures are not as harsh as those from the US, UK, or EU). However, increasing threats to crucial energy supplies could put significant pressure on both gov'ts should it result in shortages or further large price spikes.