President Vladimir Putin said Wednesday Russia will only accept payments in rubles for gas deliveries to “unfriendly countries,” which include all EU members, after Moscow was hit by unprecedented sanctions over Ukraine.

“I have decided to implement a set of measures to transfer payment for our gas supplies to unfriendly countries into Russian rubles,” Putin said during a televised government meeting, ordering the changes to be implemented within a week.

He said Russia will stop taking payments in currencies that have been “compromised.”

“Russia will continue supplying gas in the volumes fixed in earlier contracts,” Putin added.

Putin also described as “illegitimate” the freezing of Russia’s assets abroad.

He said the United States and the European Union have declared a “real default” on their obligations to Russia.

“Now everyone in the world knows that obligations in dollars can be defaulted,” Putin said.

Immediately after the announcement, the ruble strengthened against the US dollars and the euro.

Gra gra.

E dey pain am die.

Jagbajantis intete

Some smart bloke is messing with Putin's head.

If Russia will only accept Rubble, that means the buyers must get Rubles somehow.
Since buyers can't print their own Ruble, they have to buy it and guess with what currency?
Dollar or Euro of course and we are back to square one.

Iran may likely be the biggest beneficiary of this war in the interim.

Las las yuan will become world's official currency after the fall of Ameriac

Putin the clown..
I don't think you can force your customers to do this tho..That's why we have exchange rates published daily on most of the world's currencies....


This is actually a great idea but the problem now is what if the importers don’t have any ruble to pay for the oil..?so are they going to end up having to pay in US dollars?

The thing about using a currency other than the dollar to pay for oil is that the United States is the only economy willing to run massive trade deficits so that they could export US dollars...take for example Japan..Germany and China are simply unwilling to run trade deficits..you won’t find large amounts of Yen..Euro or Renminbi outside of Japan..Europe or China...

So I'd love to see how they wanna go about it..

ivolt:
Some smart bloke is messing with Putin's head.

If Russia will only accept Rubble, that means the buyers must get Rubles somehow.
Since buyers can't print their own Ruble, they have to buy it and guess with what currency?
Dollar or Euro of course and we are back to square one.

Iran may likely be the biggest beneficiary of this war in the interim.

Iran , venuzeula can't betray Russia for USA now never

colorsofrainbow:

Fulani terrorists always in pains that America is dealing with terrorist Islamic nations

America is playing with Islam ...China would crush it if it was in America's position

You want to ruin Putin, you never see chess master

This move effectively kills most of the sanctions ...they should include wheat so the west would learn

Expect demand for roubles to rise and global oil price to shoot up again.

Excellent !

Then you will not be selling any Gas Putin because Nigeria has lots of. Natural gas and we accept Dollars

Putin is behaving like someone who just woke up

mrvitalis:

Iran , venuzeula can't betray Russia for USA now never

There is nothing like betrayal in international politics. This is not child's play
or Nigerian local elections where some people try to blackmail another using
logical fallacies.

Iran only has until the next election cycle to decide.
Should another party win election in USA, it is over for any Iranian deal
which they have been waiting for for years.

What many of you don't know is that the western moves is about the next
election. Immediately the message sinks in that whichever party you vote,
the energy situation remains, then it will no longer be an issue and the window
of opportunity closes.

Then they will start talking and acting on energy security and self-sufficiency with timeline.

BTW, the only real ally Russia has is Belarus. Others are just talkers whose interest comes first.

ivolt:

There is nothing like betrayal in international politics. This is not child's play
or Nigerian local elections where some people try to blackmail another using
logical fallacies.

Iran only has until the next election cycle to decide.
Should another party win election in USA, it is over for any Iranian deal
which they have been waiting for for years.

What many of you don't know is that the western moves is about the next
election. Immediately the message sinks in that whichever party you vote,
the energy situation remains, then it will no longer be an issue and the window
of opportunity closes.

Then they will start talking and acting on energy security and self-sufficiency with timeline.

BTW, the only real ally Russia has is Belarus. Others are just talkers whose interest comes first.

Ivolt explaining basic economics and politics to these Putin supporters is so stressful...

ivolt:
Some smart bloke is messing with Putin's head.

If Russia will only accept Rubble, that means the buyers must get Rubles somehow.
Since buyers can't print their own Ruble, they have to buy it and guess with what currency?
Dollar or Euro of course and we are back to square one.

Iran may likely be the biggest beneficiary of this war in the interim.

It will make Rubble the most sort for against the US dollar, Russia will make huge profits

Yamiriflathead:
Las las yuan will become world's official currency after the fall of Ameriac

US is largest china trading partner. Do the match.

ivolt:
Some smart bloke is messing with Putin's head.

If Russia will only accept Rubble, that means the buyers must get Rubles somehow.
Since buyers can't print their own Ruble, they have to buy it and guess with what currency?
Dollar or Euro of course and we are back to square one.

Iran may likely be the biggest beneficiary of this war in the interim.

Brillant.

The Democrat will ruin this beautiful country. Americans have no clue what that means.
They have gotten a free ride since Bretton Woods.
Just wait till they can't use paper to buy real things.
And the rest of the world will not fund their budget deficits and military adventures.
The US$ falls, so does the empire.

Checkmate.

Basically Russia is going to force the countries that devalued its currency via sanctions to rebuild its currency via natural gas purchases.

While simultaneously devaluing the Euro/Dollar.

I’m sure this will end well cuz the Ruble is already climbing today... (like last month)

Lalasticlala Mynd44 Seun shoot this to fp

Christistruth00:

Excellent !

Then you will not be selling any Gas Putin because Nigeria has lots of. Natural gas and we accept Dollars

Putin is behaving like someone who just woke up

The gas is in the region of the people you always insult.

Dalil8:
Checkmate.

Basically Russia is going to force the countries that devalued its currency via sanctions to rebuild its currency via natural gas purchases.

While simultaneously devaluing the Euro/Dollar.

I’m sure this will end well cuz the Ruble is already climbing today... (like last month)

Lalasticlala Mynd44 Seun shoot this to fp

Too much wisdom in one comment

FERNANDEZISBACK:
Putin the clown..
I don't think you can force your customers to do this tho..That's why we have exchange rates published daily on most of the world's currencies....


This is actually a great idea but the problem now is what if the importers don’t have any ruble to pay for the oil..?so are they going to end up having to pay in US dollars?

The thing about using a currency other than the dollar to pay for oil is that the United States is the only economy willing to run massive trade deficits so that they could export US dollars...take for example Japan..Germany and China are simply unwilling to run trade deficits..you won’t find large amounts of Yen..Euro or Renminbi outside of Japan..Europe or China...

So I'd love to see how they wanna go about it..

Sharap let smart people analyse this , you have never been known to have good judgement

BloomingDale:


The gas is in the region of the people you always insult.

So what will you do if we decide to sell the gas in the region we like to insult?