Posted on 04/20/2022 7:04:41 PM PDT by marcusmaximus
Russia’s Foreign Minister Sergey Lavrov has issued a statement to India Today clarifying the rubles for gas mandate that has created confusion among Russia’s gas buyers, RT has reported on Tuesday.
Buyers purchasing Russia’s gas will have to pay Gazprombank, an independent institution.
-snip-
Buyers can still, therefore, pay in the currency of their choice. But Gazprombank will convert the payment into rubles. Gazprom would then be able to access the funds in rubles, assured that those funds would not be subject to sanctions.
“They won’t be able to keep this money in their banks. They will still pay in euro or dollars, but we will have guarantees,” Lavrov added.
(Excerpt) Read more at oilprice.com ...
Fold? They still have rivers of dollars and euros flowing into the country.
Putin Flashback:
Putin signs order demanding gas payments in roubles from Friday
“To buy Russian gas, they need to open rouble accounts in Russian banks,”
The neoclowns don’t understand economics or international trade.
Hurting millions of good Russian people with Western sanctions that mess with the physical and financial mechanisms necessary for Russian energy sales is counterproductive and Russophobic.
The whole country?
Dude, feel free to put your faith in what The Guardian says. I’ll trust oilprice.com to have more reliable information… they KNOW the business.
Putin decreed no euros or dollars a month ago.
Yesterday he flip flopped and said ok we’ll still take euros and dollars.
His bluff was a flop. Just like his war.
That is a bigoted ethnic slur against ethnic Russians.
The warmongering globalist Russophobic uniparty is a danger to Western Civilization.
The actions taken by the warmongering globalist Russophobic uniparty this year have already damaged supply chains and accelerated inflation throughout Western countries.
Orcs gotta orc.
ROFLOL! They are economic pygmies compared to the US and EU and are in an extremely weak position and so can’t demand squat without their bluff being called.
They will keep bleeding out badly.
Wait until Ukraine hits Sevastopol on May 9th. Putin is already in a panic.
Not only will they take dollars or euros, they also announced that they will accept Turkish lira and Chinese yuan (just one step better than Monopoly money).
They are hard up for any sales.
Their volume is dropping like a stone, storage capacity is filling up, and wells have begun being capped.
Russian Oil export volume dropped 25% in just one week recently - and that is with them offering steep discounts on price.
Germany just announced that they will ban all Russian oil by the end of this year.
The sixth round of sanctions is coming together soon.
Looks like we are still on track for the wheels to be coming off of the Russian economy in June. Debt defaults, bankruptcies, unemployment, Government printing money to keep the lights on.
Putin has screwed the pooch, big time.
Russia is still only taking Rubles for its gas. The problem is there is no open source of Rubles on the world market without access to SWIFT which Russia was cut out of. This decree is exactly what is expected. By forcing the rest of the world to use a local inside Russian bank to do the exchange rate and issuance of Rubles for what every currency they wish to bring to that Russian in house bank they accomplish two things. One the funds are in Russian hands and cannot be seized by sanctions and two the Russian Ruble is now indexed to oil and also pegged to gold by official exchange rate. Both are significant and neither is good for the petrol/fiat dollar. Russia has vast resources of gas,oil,heavy metals,grain,and land lots of land Russia covers TWELVE timezones. It’s world games to say they are taking euros or dollars for their gas they are not they are forcing a international currency exchange into rubles them allowing only those exchanged rubles to be used for their oil and gas it’s a stroke of genius.
Contracts are in dollars or euros. Putin is taking the currency risk. He won’t even convert those dollars or euros into rubles once they’re in house. He’s a wimp, not a genius.
Sovereign debt default is May 4th just in time for Putin’s May 9th “Victory” parade. Too funny.
Isn’t it amazing the headlong rush to war AGAIN after zero lessons learned in the debacles in Iraq and Afghanistan. Also zero doubt that we’re the good guys and Russia’s actions were “totally unprovoked” and had nothing to do with NATO and CIA war pigs. Here’s a lesson I learned after 8 years of Bush and 8 years of Obama: if you find that the Big media, Big tech, the State department, Congress, the CIA, Brussels, the IMF, George Soros’ Open Society Foundation and Klaus Schwab’s World Economic Forum ALL agree that declaring war on country X will “uphold democracy” you can be sure a lot of people are going to die and a few people (not you) are going to get obscenely wealthy in the process. Know that it’s a terrible idea you should run fast and far from.
“Both are significant and neither is good for the petrol/fiat dollar. “
I’m surprised by you. Normally you use your brain. The percentage of Russian sales of oil and gas is about ONE HALF OF ONE PERCENT OF ALL DOLLARS TRADED. Please explain how that makes any real difference. IT DOES NOT. A spit in the vast dollar ocean.
Good points.
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