(ECNS)--Russian President Vladimir Putin signed a decree on Thursday on new rules of natural gas trade with "unfriendly" countries and regions, vowing to halt existing contracts if these buyers refuse to pay in rubles.
The EU is aiming to cut its dependency on Russian gas by two-thirds this year, as Russia supplies around 40% of Europe's gas needs. The United States will supply 15 billion cubic metres of liquefied natural gas (LNG) to the European Union this year, according to media reports.
Some observers say this is an alliance to contain Russia. However, such strategy could hardly work. The transportation of natural gas needs extensive infrastructure, and the cost and technical challenges of cross-regional transportation are big issues.