Posted on 06/03/2022 9:20:08 AM PDT by marshmallow
MOSCOW (Sputnik) - Russia is looking into the possibility of extending the ruble payment requirement for certain types of goods other than natural gas, Russian Foreign Ministry spokesperson Maria Zakharova said on Friday.
"As the practice of payments for Russian gas shows, most of our counterparties have agreed to the new format of interaction... With regard to expanding the scope of ruble payments for certain categories of Russian goods, such options are always on the table," Zakharova told a briefing.
She added that Moscow has no doubts about the West continuing "to take advantage of its position in the international and financial system, to put it mildly."
"Realistically speaking, [Western countries] will simply continue to manipulate in this area, employing elements of blackmail and intimidation... It is their traditional approach to everyone who is displeasing to them," Zakharova said, adding that Moscow advises all its partners who claim to pursue an independent domestic and foreign policy to draw the necessary conclusions.
Furthermore, Russia intends to maintain the policy of increasing the share of national currencies in trade, economic and investment relations with its main partners in the future, she said.
(Excerpt) Read more at sputniknews.com ...
Looks like that maneuver (forcing payment in rubles for oil and gas), as successful as it was for strengthening the ruble initially, may not be enough in the mid term.
Unfortunately for Russian policy makers, they have no other cards to play that are anywhere near the size of their oil and gas exports.
Let them trade in rubles with China and India. Zero f_cks given.
China will own Russia’s eastern zones anyway.
Btw - the GDP of Russia is smaller than that of Texas. Not exactly a major player in global economics.
Just wait til China starts demanding payment in rmb.
This point was laughed upon by the experts long time ago.
Rubles have been around for 500 years.
GDP of Texas is over $2 Trillion and growing.
GDP of Russia was under $1.5 Trillion, but it is shrinking.
I think that Texas also has a more diversified economy, less dependent on oil and gas
Wonder what’s happening in the world of Gold in Russia.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.