Skip to comments.Russia will view refusal of paying for gas in rubles as breach of contract — Putin
Posted on 03/31/2022 11:32:48 AM PDT by Navy Patriot
On March 31, the Russian President signed the decree stipulating acceptance of payments for gas in rubles.
If gas buyers from unfriendly states refuse to pay for gas in rubles, Russia will view it as breach of contract, President Vladimir Putin said at the meeting on the situation in the aviation sector.
"If such [ruble] payments are not made, we will consider this to be the buyers’ failure to perform commitments with all ensuing implications," Putin said.
(Excerpt) Read more at tass.com ...
Who does he think he is?
How can a customer refusing to allow a change of payment currency on an exisiting contract be “breach of contrat”
This mindless adoration of all things Putin but the Alex Jones Alt Right has reached a new level of pathetic here today
No worries, they can turn to the good ole USA to buy their energy!
Look at the contracts. If they say payment is to be made in dollars or whatever and the decree specifies payments shall be made in rubles then that is a material breach of contract. That is on Putin not the buyers.
This has long term implications regarding the reliability of Russia as a supplier. If purchasers think that Russia may try to change the terms of the contract arbitrarily they will think twice about signing contracts with the Russians.
Check and mate
Joe Biden said the ruble had turned to rubble. I wonder who wrote that line for him?
Globohomo Euro hit the hardest.
Hey...my utility company turns my supply off if I don’t pay.
So where in the contract does it say the west can seize Russian assets?
...or PRC (Politically Repressive Canada)...
oops, Prime Mistake Cockwomble True-dolt failed to offer NG to the Euroweenies when he spoke in their various legislatures
Basically, it’s ‘we support you in spirit, but don’t expect Jack Schitt in assistance from PRC.”
The contract MAY preclude a customer from participating in Economic Sanctions against the seller.
It would not be an unusual clause, and would allow a case to proceed in court.
Whether Russia would win the case is another matter.
And let me know as soon as you do.
If purchasers think that Russia may try to change the terms of the contract arbitrarily they will think twice about signing contracts with the Russians.
Russia may not have changed the terms of the contract.
They have been sanctioned for years, may have seen this coming and written current contracts accordingly.
You will know when YOU read the contracts, I suspect Putin has.
Changing the rules in the middle of the game.
Just wait...the Putin Puffers will go lower tomorrow. Bet on it.
Well, American Democrats do that all the time.
Not so sure about Putin.
There are some reasonable expectations thT Russia would have in a contract. One of which being, if you paye money you can’t just freeze it such that I cannot use it. His point is completely valid whether or not you like him. Imagine giving the bank a check that couldn’t be cashed. That seems to be the situation here. Since Russia owns the commodity it seems reasonable that they would make such a decision.
Did you read the contract? I believe they all specify the payment terms and typically it will say USD or EUR. So he is trying to change the terms. Which he is welcome to do upon contract expiration.
Russia owns the commodity and the means to defend it. Courts are useless. Are they going to rule that Russia has to keep the pipes on? How will thry enforce?