RIGA - Aigars Kalvitis, CEO of Latvijas Gaze natural gas utility, does not see how the company might pay for Russian gas imports in rubles.
Kalvitis told LETA that under the current contract terms, payments for gas are made in euros, and it is not clear how the payments in rubles might take place.
"The current contract terms do not provide for any different terms. The agreement is about euros. I have no idea how we might pay otherwise. Our contract does not provide the possibility of payments in other currency," Kalvitis said.
As reported, Russian President Vladimir Putin said Wednesday Russia will only accept payments in rubles for gas deliveries to "unfriendly countries", which include all EU members, after Moscow was hit by unprecedented sanctions over Ukraine.
"I have decided to implement a set of measures to transfer payment for our gas supplies to unfriendly countries into Russian rubles," Putin said during a televised government meeting.
He added, however, that Russia will continue supplying the volume of gas outlined in its contracts.
Latvijas Gaze's largest shareholders are Gazprom (34 percent), Marguerite Gas II.S.a.r.l. (28.97 percent), Uniper Ruhrgas International GmbH (18.26 percent) and Itera Latvija (16 percent). The company's shares are listed on Nasdaq Riga stock exchange.