Posted on 03/31/2022 9:27:35 AM PDT by RandFan
Vladimir Putin today threatened to turn off Europe's gas supplies from tomorrow if countries refuse to pay in roubles.
The Russian President, announcing a decree in televised remarks, said foreign buyers would have to 'open rouble accounts in Russian banks' which can be used to pay for 'gas delivered starting from tomorrow'.
'If such payments are not made, we will consider this a default on the part of buyers, with all the ensuing consequences. Nobody sells us anything for free, and we are not going to do charity either - that is, existing contracts will be stopped,' he said
The move has been seen as a bid to bolster the Russian currency and economy, hit by Western sanctions, in order to fund the war. But Western companies and governments have rejected the move as a breach of existing contracts, which are set in euros or dollars.
The European Union relies on Russia for 40 per cent of its gas consumption, costing the bloc £340million (€400million) a day in contracts which are mostly settled in euros or dollars. According to Gazprom, 58 per cent of its sales of natural gas to Europe and other countries as of January 27 were settled in euros. US dollars accounted for about 39 per cent of gross sales and sterling around three per cent.
A Kremlin decree published today sets out that contracts will be stopped if buyers do not sign up to the new conditions, including opening rouble accounts in Russian banks. The buyers can still pay in foreign currency and authorise the bank to sell that for roubles, which are placed in the second account, where the gas is formally purchased.
German Economy Minister Robert Habeck rejected Putin's the demands as an unacceptable breach of contract
(Excerpt) Read more at dailymail.co.uk ...
Back in East Germany during the KGBs heydays, he personally shot over 85 known prisions if my sources in government were correct. He is a real hands on kind of guy - and those steel blue grey Putin eyes, Bush knew about those executions and said he understood Putin. Mock Bush II but some of us really know Val the Impailer II for who he was in East Germany.
One chance to answer the question. Even if you told him the answer after he asked a second time you were dead.
If you want to follow the rules then follow all the rules. Sanctions changed many of the existing rules.
His sense of timing is good, the weather is turning much colder after a week of warm temperatures. It was snowing earlier today in Belgium and parts of Germany. Last week it was near 70 degrees there.
By the way, the rainy season just began in Ukraine. That may prove to have an impact also.
And let Euro and US Dollar tender reassignment surgery begin, sans anesthetic. Skal'pel', medsestra! Toropit'sya!
We have a lot of people on here who are either ignorant of or don’t want to mention a simple fact:
The EU is the biggest economy on Earth, and China’s biggest trading partner. USA is #2,
Putin can squawk, and cause a lot of short term grief, but, if the West plays its cards anywhere near correctly, in the long run Pooty is hosed. If the Russian people are wise, they’ll not go down with him.
Ok, that 1st one especially is a big if. 1st, the Dems MUST be CRUSHED this fall.
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