Fold? They still have rivers of dollars and euros flowing into the country.
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.
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.
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.
In a concerted move to move away from its heavy reliance on Russia amid the Ukraine crisis, Germany authorities have finally given in and allowed gas drilling to proceed in one of its most controversial territories.
On Wednesday, a German regional authority responsible for the Wadden Sea Islands gave the green light to a Dutch company to drill for gas in the North Sea above the Wadden Islands.
EU says gas payments may be possible under Russian roubles proposal without breaching sanctions