Putin Plans To Make ‘Unfriendly’ Countries Purchase Russian Gas In Rubles

[Rogue Valley]

Putin Plans To Make ‘Unfriendly’ Countries Purchase Russian Gas In Rubles

3.23.22
Russian President Vladimir Putin is planning to make “unfriendly” countries purchase Russian natural gas in rubles, he said at a government meeting Wednesday, which could worsen the energy crunch in Europe.[/COLOR][/B] Putin demanded the Russian Central Bank craft a solution within a week to accept gas payments in rubles and tasked Russian state-owned energy giant Gazprom with modifying contracts. As of January around 58% of Gazprom’s natural gas sales were in euros, 39% in dollars and 3% in sterling, Reuters reported. A Polish government source told Reuters that forcing payments for Russian gas to be made in rubles would constitute a breach of contract. Italy, one of the biggest buyers of Russian gas, said it would likely continue payments in euros. The European Commission has pledged to reduce the bloc’s reliance on Russian gas by two-thirds by the end of the year.

This would constitute a breach of contract, demonstrating yet again the lawlless nature of the Putin regime. Very few nations (if any) have any appreciable amount of rubles in their treasuries. Putin is trying to harm the standing of the USD as the global currency standard.

From what I understand, Russia Central Bank Director Elvira Nabiulina tendered her resignation on the day of the Ukraine invasion. Putin refused to accept her resignation. He needs her expertise if there is any chance to prevent the tanking of the Russian economy. Yesterday the Russian stock market opened for the first time since invasion +1.

 

[CaughtInThe]

This would constitute a breach of contract

Putin is a mob boss.

He don't care none.

 

[Peacenik]

I suppose he believes it is 'friendly' to make unprovoked large scale war crime military attacks on smaller neighboring countries and bomb their hospitals, apartments and schools?

With 'friends' like that, who needs vicious enemies?

 

[bluesmoke]

To make buying Russian energy less economical is to make the alternative of doing without relatively better, however worse.

 

[joluoto]

It's also dumb because he need foreign currency to pay for Russian imports, the people selling to Russia don't want Rubles, they can't do shit with Rubles.

 

[Rogue Valley]

In the global economy, Russian rubles are now virtually worthless.

1 Russian ruble = 1 US penny