A Kremlin spokesperson said on Friday that Russia will not turn off gas supplies to Europe from April 1. “Payments on gas deliveries due after April 1 come in the second half of April and May,” the spokesperson explained.

Additional takeaways

“Gazprom will closely work with its gas buyers.”

“Russian President Vladimir Putin’s order of gas payments in roubles is irreversible.”

“Rouble is the most preferable and secure currency for us now.”

“Germany’s idea to nationalize Gazprom units would violate international law, such calls are unacceptable.”

“Seeing a slew of illegal attempts to confiscate Russian property abroad.”

“Observing such actions relating to international reserves.”

“Attempts to nationalise Russian assets will bring nothing good.”

Market reaction

The market mood remains relatively upbeat following these remarks and the Euro Stoxx 600 Index was last seen rising 0.6% on a daily basis.