Putin demands 'unfriendly countries' pay for Russian gas in rubles
Russia wants "unfriendly countries" to pay for Russian natural gas in rubles. That's a new directive from President Vladimir Putin as he attempts to leverage his country's in-demand resources to counter a barrage of Western sanctions.
"I have decided to implement ... a series of measures to switch payments — we'll start with that — for our natural gas supplies to so-called unfriendly countries into Russian rubles," Putin said in a televised government meeting, adding that trust in the dollar and euro had been "compromised" by the West's seizure of Russian assets.
The new requirement appeared aimed at propping up the flagging Russian currency, the ruble, by increasing demand for it. Its value gained against the dollar and the euro following Putin's announcement. Natural gas prices surged in Europe, where Russia has supplied about 45% of imports.
President Biden earlier this month banned Russian energy imports to the U.S., with a 45-day window to wind down existing contracts. European countries have announced plans to reduce dependence on Russian energy. But for now, they continue to buy from Russian oil and gas companies, the largest of which are controlled by the state.
Biden and European allies this week are expected to announce new sanctions.
So far, Russia has continued to meet its contractual obligations to Western gas and oil consumers — even as it has touted reorienting its energy export toward China. Moscow also recently added the U.S., the United Kingdom and the entire European Union to its growing list of "unfriendly countries."
Russian leaders have also hinted at more severe consequences as members of the EU bloc have sought — thus far unsuccessfully — to impose an outright embargo on Russian imports.
In a speech before the Russian Duma on Wednesday, the Kremlin's Energy Minister Alexander Novak warned of a potential "collapse" in energy markets — predicting prices would skyrocket as Russian exports stalled.
In my opinion, a total embargo on oil energy is a wrong determination and could lead to an energy collapse, welcome to give your opinion on the energy market![]()
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UNC Johnnie : Thru don't supply the world's energy
NjD NjD : All we care now is to save innocent lives in
and around the world. Everyone can survive without energy for a while and they will create ways to produce more themselves. If not stop wrongdoing, They should pay for what they did to innocent people around the world.
勝陞 : Don't you think what the president of the United States is doing is weird? Under the banner of relief, it costs taxpayers' money, and it is the innocent people who are really punished.
AAApe 勝陞: Sanction is like a parent breaking the law, and as a result, you punish the child to make the child hungry. Sanctions are never the solution to the problem
efficentupupOP NjD NjD: No one wants the war to continue
efficentupupOP AAApe: agree
efficentupupOP 勝陞: That's the truth
efficentupupOP UNC Johnnie: ...
MooSting : Sanction will not stop a war. It will cause inflation around the world.
101508340 : can anyone help- for HK stocks what will be the minimum lot 1000,100 or ? thk you
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