Posted on 03/30/2022 7:29:53 AM PDT by marcusmaximus
Russia will not immediately demand that buyers pay for its gas exports in rubles, the Kremlin said on Wednesday, promising a gradual shift and saying Russia should work on an idea to widen the list of its exports requiring ruble payment.
President Vladimir Putin issued an order last week for Russian gas, which accounts for 40 percent of European needs, to paid for in rubles instead of dollars or euros.
-snip-
Asked whether the payments should be in rubles starting from Thursday, Kremlin spokesman Dmitry Peskov said: “Absolutely no.”
(Excerpt) Read more at english.alarabiya.net ...
“So you buy Rubles with Euros or Dollars or whatever, thereby backing the value of the Ruble.”
But the ruble was already backed by the oil which you needed the rubles to purchase, thus you’re just playing a shell game.
The principal decision is that dollar is not a mean of transactions anymore.
He haz a sad.
The only thing Russia seems to be good at is backpedaling
The rule of opposites—you have a stunning ability to provide totally false information.
Since we know that now—it is very helpful.
Keep posting!
Boris, that’s so cute and catchy.
No mention of Bitcoin.
The truth is that the existing contracts are very lucrative for Europe. If they want them null and void over minor issue, they’d conclude new ones but based on the current market gas price.
Makes sense.
If you start a war you need currency. Got to have foreign currency to transact business. If you want to keep the war going.
And Russia, regardless of inflation can’t print enough rubles. Then the purchases of foreign products will have to be conducted in gold and silver which is cumbersome and otherwise not efficient.
5.56mm
Um, get proposals to me by March 31st. That’s what was said so. Let’s see what comes back.
Yes but oil is not cash
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