Moscow : A number of Western countries have made illegitimate decisions to freeze the assets of Russia in recent weeks, Russian President Vladimir Putin said on Wednesday, noting that they completely lost confidence in their currencies. “Over the past few weeks, as you know, a number of Western countries have taken illegitimate decisions on the so-called freezing of Russian assets. And this West has actually drawn a line under the reliability of its currencies, we have already spoken about this too, lost the trust in these currencies. Both the United States and the EU declared, in principle, a real default on their obligations to Russia,” Putin told a government meeting. Now, everyone in the world knows or suspect that obligations in dollars and euros may not be fulfilled, he added. Russia converts payments for gas supplies to unfriendly countries into rubles, the leader said, noting it makes no sense to supply Russian goods to the EU and the US and settle payments in their currency. “It makes no sense for us to deliver our goods to the European Union, to the United States, and to settle payments in dollars, euros, and a number of other currencies. Therefore, I have decided to implement in the shortest possible time a set of measures to transfer payments … for our natural gas supplied to the so-called unfriendly countries to Russian rubles,” Putin said. At the same time, Russia will continue to supply gas in volumes and at prices fixed in earlier contracts, as the country values its reputation, he added.