G-7 agrees to reject Russia's demand to pay for gas in rubles

The Group of Seven major developed countries Monday agreed to reject Russia's demand to pay for its natural gas in rubles when importing, Japan's industry ministry said.Energy ministers from the seven countries -- Britain, Canada, France, Germany, Italy, Japan and the United States -- also agreed during an emergency meeting to ask firms in their respective countries not to meet Russia's demand.The G-7 concluded that the attempt made by Russian President Vladimir Putin to unilaterally change the currency of settlement constituted a clear breach of contract, according to the Ministry of Econo…READ FULL ARTICLE