German gas industry group Zukunft Gas said on Wednesday it was confused by the statement of Russian President Vladimir Putin about the switch of payments for Russian natural gas supplies to rubles.

“We took the message that Russia wants [us] to pay for gas supplies only in rubles with great confusion,” Timm Kehler, the director general of Zukunft Gas, told DPA agency. “We can't predict at this moment what specific implications this will have for the gas trade,” Kehler said.

Meanwhile, Austrian OMV said it was going to continue to pay for Russian gas in euros. According to the head of the company, they have no other contractual basis.

President Putin announced earlier in the day that Russia will now accept payment for gas exports to “unfriendly countries” in rubles only.

READ MORE: Putin wants rubles for Russian gas
The measure is the first serious response from Moscow to sanctions imposed on Russia by the US and its allies over the conflict in Ukraine. A number of mostly Western countries have taken steps to isolate Russia from their financial systems. Major Russian banks have been cut off from the SWIFT payment network, making it difficult for the country to continue transactions in euros and US dollars.
https://www.rt.com/business/552571-russia-ruble-gas-europe-confused/

When you were sanctioning left and right, you weren’t confused. Now, the sanctioned has sanctioned the sanctioner, they are confused. Confused kee you there!

Relationship between the Bushmeat and the Hunter.

To get Rubies to pay for Russian gas, then they would need to export something to Russia and be paid in Rubies.

It is a way of forcing them to trade with Russia.
You just can not trade with other countries and use the dollars or Euro that you get to buy Russian gas.

The main implication is that Russia is signalling a desire to cut off gas supply to Europe if the payment issue is not resolved.

The Austrian guy that is talking of contract terms and vowing to pay in Euros does not yet know what is coming his way. The Russians will declare a force majeure because of the war and sanctions and the contract terms will no longer be binding.

It will be interesting to see how this will play out. There will need to be a trade balance between Russia and Europe for this to work out and that will mean restricting gas exports to Europe to match Europe's export to Russia.

Interesting times. Using the swift system for sanctions is about to have consequences on both parties.

The masses will suffer it as usual.
Europe is already bracing up for such moves by Russia because most of the Countries prefer to suffer for a while than live under Russia threats.

The German director general is a funny guy. Where's the confusion? Buying gas in Ruble or is there somfin I didn't read?

It's like Putin got this one spot on. Very strategic. Beginning to look like a chess player at last.

Putin is already looking at other economic plans for Russia, Mans not concerned about Western Sanctions, bad guy is chilling.

You guys should have thought about all this before hammering sanctions anyhow.

If they can't pay in Rubles, then make Dem use their urine as gas .

Do me I do you, God no go vex

Ode putins, train don leave station already and the people you are talking about are only 20% of your buyers and the rest are still subject to energy sanctions which is the next step.

Hope African leaders are taking notes?

This could readily be us.

Fernandeswagger:
The German director general is a funny guy. Where's the confusion? Buying gas in Ruble or is there somfin I didn't read?

It's like Putin got this one spot on. Very strategic. Beginning to look like a chess player at last.

E hook am for neck

To get Rubies to pay for Russian gas, then they would need to export something to Russia and be paid in Rubies.

It is a way of forcing them to trade with Russia.
You just can not trade with other countries and use the dollars or Euro that you get to buy Russian gas.

The main implication is that Russia is signalling a desire to cut off gas supply to Europe if the payment issue is not resolved.

The Austrian guy that is talking of contract terms and vowing to pay in Euros does not yet know what is coming his way. The Russians will declare a force majeure because of the war and sanctions and the contract terms will no longer be binding.

.

Biden didn't expect this. They'll now be negotiating on russia's own terms and conditions.
International relations is like game of chess.
You can't kill the king without checking your moves correctly and defend yours at the same time

NGpatriot:
Ode putins, train don leave station already and the people you are talking about are only 20% of your buyers and the rest are still subject to energy sanctions which is the next step.

And you think the deal with Qatar would kick off immediately, right? You don't know it takes years to construct gas pipelines that would transport the gas from Qatar to Germany.

You people are stupid oh, this is when you follow follow without plans.

Keeping doing "OH, yes" to US, America in far another continent, you betrayed your own brother in Europe, for somebody far away, stupidity.

chronique:


And you think the deal with Qatar would kick off immediately, right? You don't know it takes years to construct gas pipelines that would transport the gas from Qatar to Germany.

Why did you quote that illiterate? Don't you know he is one of Buhari economic team, just look at Nigeria economy and free fall of naira, and don't respond to him

chronique:


And you think the deal with Qatar would kick off immediately, right? You don't know it takes years to construct gas pipelines that would transport the gas from Qatar to Germany.

there are ships that can accumulate as many as gas. That's how nigeria is exporting her gas to Europe. Same way Europe will exports it gas

Drenimarcus:
When you were sanctioning left and right, you weren’t confused. Now, the sanctioned has sanctioned the sanctioner, they are confused. Confused kee you there!

Putin don't want to repeat the same mistake twice. NATO seized his huge money in Euros and Dollars. So he wants to promote his currency to avoid being seized and used by them. Dem think say na dem get sense pass.

okeysoninv:
there are ships that can accumulate as many as gas. That's how nigeria is exporting her gas to Europe. Same way Europe will exports it gas

Germany does not have LNG terminal. Not even one terminal. Reason it has never bought US gas. The deal with Qatar also requires construction of LNG terminal for compressed gas. So Germany is stuck. When they are finally able to build terminals to diversify in some years to come, it still does not solve the problem, because trying to isolate 50billion cubic annually puts pressure on the demand therefore causing an inflation that will still have a boomerang effect on the European economy. While Russia will have ample time to diversify its market. Europe will only truly be free when it incorporates its transition to green energy which the earliest expectations is 2030.

princeeze1:

Germany does not have LNG terminal. Not even one terminal. Reason it has never bought US gas. The deal with Qatar also requires construction of LNG terminal for compressed gas. So Germany is stuck.

lol so all the gas (28%) Nigeria and Africa country is sending to Europe is by air.dunce everywhere . Russia only account for 40% of European gas use

okeysoninv:
there are ships that can accumulate as many as gas. That's how nigeria is exporting her gas to Europe. Same way Europe will exports it gas

And they would be delivered how? Germany does not have an LNG terminal for liquefied natural gas so how is it going to be delivered?

https://www.theguardian.com/world/2022/mar/20/germany-gas-deal-qatar-end-energy-dependency-on-russia

chronique:


And they would be delivered how? Germany does not have an LNG terminal for liquefied natural gas so how is it going to be delivered?

https://www.theguardian.com/world/2022/mar/20/germany-gas-deal-qatar-end-energy-dependency-on-russia

and the 28% of European gas from Africa is sent by air .

princeeze1:

Germany does not have LNG terminal. Not even one terminal. Reason it has never bought US gas. The deal with Qatar also requires construction of LNG terminal for compressed gas. So Germany is stuck. When they are finally able to build terminals to diversify in some years to come, it still does not solve the problem, because trying to isolate 50billion cubic annually puts pressure on the demand therefore causing an inflation that will still have a boomerang effect on the European economy. While Russia will have ample time to diversify its market. Europe will only truly be free when it incorporates its transition to green energy which the earliest expectations is 2030.

Help me ask him o. Comments like this just shows how most people don't even know what they are talking about once they jump into a discussion.

okeysoninv:
lol so all the gas (28%) Nigeria and Africa country is send to Europe is by air.dunce everywhere . Russia only account for 40% of European gas use

It would help you to read before commenting and showing people how ignorant you are.

Putin planned it well, but it take a lot of time before he did it, something he should done long time ago.
Petrol-dollar will hit problems later as Saudi is looking at Yuan to trade oil.

Reason Saddam and Qaddafi were killed was because they want to control their own oil and gas price in Golds not Dollars
This sanctions will end up making countries to trade in their own currency.
Imagine Nigeria started using Naira for all our trades.

princeeze1:

It would help you to read before commenting and showing people how ignorant you are.

you are the ignorant one here. Maybe a research would have helped u. Russia only account for 40% of German use. Where do you think the remaining 60% comes from

Elvictor:
You people are stupid oh, this is when you follow follow without plans.

Keeping doing "OH, yes" to US, America in far another continent, you betrayed your own brother in Europe, for somebody far away, stupidity.

When your brother want to make you his slave, what are would you do?

okeysoninv:
you are the ignorant one here. Maybe a research would have helped u. Russia only account for 40% of German use. Where do you think the remaining 60% comes from

Germany depends on Russian gas for about 55% for its energy but the whole of Europe depends on Russian gas for energy to the tune of 40% and more. Take note that currently, Germany also gets energy from nuclear plants which they are planning to shut down. Shutting those plants down would obviously increase their demand for gas above the current percentage. The question will be how and who would supply them. Also, take note that it's cheaper to buy from Russia than to buy from the US or Qatar.

okeysoninv:
you are the ignorant one here. Maybe a research would have helped u. Russia only account for 40% of German use. Where do you think the remaining 60% comes from

Look at the way you are disgracing yourself in a public forum with so much glee and pride.
1) Russia does not account for 40% of German gas but about 55-70%. The 40% talked about is % share of Russian gas for all of Europe. You can simply google this, it’s open source.
2) Germany gets all its gas via pipeline currently, no LNG terminals, it would require years to build before they can think of even ditching Russian gas. Maybe you know more than them when they proposed 2030 for themselves.
3) Unless Europe transitions to their green energy initiative which still has 2050 as an achievable target, trying to ditch the biggest supplier of cheap pipeline gas will bring about excess demand and under supply. I know you don’t know what that means also.
4) While Europe pursued a 2030 timeline, Russia has more than enough time to diversify its supply.

Hmmmm!
This Putin proposal.sef