President Vladimir Putin has threatened to cut gas supplies to «unfriendly» countries if they don’t start paying for gas imports in Russian roubles.
The US, EU, and UK placed restrictions on oil and gas imports from Russia after it invaded Ukraine in February.
What sanctions are there on Russian oil and gas?
The US has declared a complete ban on Russian oil, gas and coal imports.
The UK is to phase out Russian oil by the end of the year, and the EU is reducing its Russian gas imports by two-thirds.
The UK government says this allows enough time for it to find alternative supplies.
Deputy Russian Prime Minister Alexander Novak has said rejecting Russian oil would lead to «catastrophic consequences for the global market».
Oil and gas prices have risen since the invasion of Ukraine, and if Russia were to halt exports they could rise further.