Great0ne1:

Idiota !! They stole Russia's reserve and seized assets owned by Russia oligarchy. Who gave them right to do that idiot ?

EU will not pay in Rubles idiota.

maasoap:


Yen yen yen yen!!! You rant too much.

it's not ranting, it's jesting your Putin, he is isolated.
He's the one frustrated now.
You're the one sad.
So don't talk because you have to say something, talk because you have something to say.

onlyson16:
too small. What about the ram. Yea will talk i like the stuff i dnt mind charting u up

ok works for me too

mach7:
Please don't confuse yourself. Russia has no pact with either Saudi Arabia or Qatar on gas trading.

Saudi Arabia and Russia, as two major gas suppliers, greatly influence the global market prices through output production. Europe explored the possibilities to have Saudi Arabia produce more gas to offset potential Russian gas shortages, they refused largely because Saudi was not willing to double-cross a gentlemanlike agreement with Russia. This understanding among leading OPEC is well-known (Google your Friend)

If you don't understand open (spot) market operations, please do more research.

The Question, will this market replace what Europe is to Russia?

With regards to Oil volumes which will be withdrawn from the European market, I hope you are seeing recent developments in India, where they are purchasing more volumes of oil from Russia (in excess of 3m barrels per batch) which is traded via Ruble-Rupee exchange.

India and Russia are STILL working on the mechanism of a Ruble-Rupee exchange. Such trading hasn't started yet.

shogz89:
who will sell the Gas they refuse to buy from Russia to them and at what cost? Remember Opec does not have plans to increase supply.. And why are they still buying their Gas since they are sanctioning Russia.. Infact since the sanctions started, EU have bought 15% more gas in March from Russia than in February.

Yes, that's a challenge Europe hasn't gotten a lasting solution to yet. But a lot of people make it seem like there's another EU-size market ready to consume Russian gas to European countries, assuming Putin pulls the plug. Russia's economy largely depends on energy-trading. Putin has already started accelerating Europe ultimate aim of fending themselves off Russia gas.

shogz89:
He is cutting supply to unfriendly European countries,, they have other countries they service.. India and China alone use more gas than the whole EU.. So they aren't loosing all 80%

Those unfriendly countries make up the bulk of the E.U. The fact of the matter is, any Billions from trading with E.U can't be offset by only China and India. Those countries are already importing near their needs and won't simply double their demand because Russia has spare gas to sell.

priestcharm:

Plenty countries will buy cheap Russian oil. Once the contract buying from others expire. It is pure economics. If you pay nepa average of 50k to buy power and a Chinese company comes with same power for you to pay 30k, won’t you port? India will buy cheap Russia crude once her contract to buy from Qatar for example expires.

If a country like india starts seeing Russian gas a cheap, then it must be really cheap then. Besides, that frees up Qatar to sell more to other places like the E.U, right? India and China will never replace western markets for Russia energy exports. Simple.

jelel6:


Yes, that's a challenge Europe hasn't gotten a lasting solution to yet. But a lot of people make it seem like there's another EU-size market ready to consume Russian gas to European countries, assuming Putin pulls the plug. Russia's economy largely depends on energy-trading. Putin has already started accelerating Europe ultimate aim of fending themselves off Russia gas.

There might not be Euro size market to consume Russias Gas.. But there is surely no Euro size Supplier to replace Russia either and at such ridiculous price that Russia is offering to EU..

It will only give birth to alternatives.


Canada LNG warming up.

jelel6:


And you don't even know your statistics. By far, the United States of America is consumes more gas than China. Consumption is different from importation.

Simple matter: Who would buy those excess gas Russia refused to sell to Europe? All the countries you mentioned, are they not already buying what their capacity needs from elsewhere?

The fact of the matter is Russia's economy is heavily dependent on SELLING Energy and its derivatives to more industalized countries in Europe. Cutting supplies will hurt Europe no doubt, but it will hurt the Russian economy much more.

German and French ministers have said no way they're paying in rubles. Let's see if Putin has the balls to cutoff Europe and lose potential Billions of dollars needed to finance his war machine.

Dear oh dear,

Where will Europe buy gas from subsequently? Is it not from those that currently supply China and the rest?

Would that not force China and the others to look towards Russia to balance the deficit? It will basically be an exchange

Minjim:


No really, the path is going is not good for biz. It's just a short term benefit.

All European countries will start working desperately at alternatives and when that happens,

They both will be working on alternatives.
Europe will look for alternative energies so as not to rely on russia and russia will be looking for alternative currency reserve so as not to rely on dollars.
It is a race of not relying on each other. Nobody should hold the other by the balls.

Househelp:
Please my fellow nairaland, old dell London used laptop for sale in Abuja, if interested please DM me

specs?

ojesymsym:
I said it before.
Since EU countries will out of fear of the US or because of pride not want to pay in Rubies, then this is a business opportunity for any country willing to risk it and possible US sanctions.
Act as an intermediary between Russia and the "unfriendly" nations. Collect euros from them, pay Russia in Rubies and keep the profit.

I think China is the only country that can risk this without fear

Only the Swiss can. This is how they always profit from war, their neutrality.

Igbofam:


EU will not pay in Rubles idiota.

And they will freeze to death. Wonder why they still want to buy gas from evil putin

The Gas can be converted to liquified natural gas and shipped to its destinations. Please do your research, Isreal and other middle eastern state has already started this.

Elvis778:

So wait, you think you just wake up one morning and decide to get gas elsewhere? Do you know how much it will cost to put the infrastructure in place? Do you know how long it will take? What gas would they use to keep warm while they make plans to get gas elsewhere? Does this "Elsewhere" have enough gas for them? Or they still need to put up more facilities to connect several other countries? Which would definitely run into billions of dollars that would have paid for months If not years of gas if they continued with their current supplier....some of you will be disastrous if made to lead.

You don't know what you are saying. The moment other countries sanctioned Russia, They have breached any agreement they had. Russia can do anything.

Igbofam:


See dumbo equating a cross country business contract to economics

Has EU breeched the contract? The contract terms were defined in EUROS and not Rubles and BOTH PARTIES signed off on it which made it binding.

In your extremely dumb mind one party would just wake up and unilaterally cancel or want to ammend the contract without the approval of the one paying?

Is Russia the one paying or the one rendering service? What is the business of the receiver of monies with how they are paid? That is the absolute prerogative of the payee as agreed by the receiver.

Mr Dumb economics

Great0ne1:

And they will freeze to death. Wonder why they still want to buy gas from evil putin

You wish they would freeze to death but guess what, Summer is virtually upon them in Europe

How would they freeze to death in Summer idiota?

emmanbol:
You don't know what you are saying. The moment other countries sanctioned Russia, They have breached any agreement they had. Russia can do anything.

Really? Tell me more about international law

So a specific legally binding contract was breeched when the country was sanctioned when sanctions were not included on the contract as a clause which would be considered as Bree h of contract?

Ogbeni abeg getat.

Show me where Russia even remotely cited anything about breech of contract in all the noise they have been making? All they have been saying has been that EU must pay in rubles and threatening them with shutting off the gas.

It's simply coercion from Russia and nothing to do with breech of anything.

Stop manufacturing nonsense claims

Igbofam:


They never froze the Russian central bank which handles all payments. So which account are you yapping about?

You are really slow for someone who claims to be in high end projects around the world.
So because Russian central Bank handles payments means the payments made by EU for the gas in their currency(euro) will be domiciled inside the Russian central bank or what?
Do you even know how banking works?
Russian central banks just have payments account it manages domiciled in the paying country,
Which Is what the west and its allies has frozen!

April 1st go pass and Russia no go cut gas supplies. I wonder what Putin defenders here will say?

It's an empty bluff, and the EU has called it.

SeaTrade:
You are really slow for someone who claims to be in high end projects around the world.
So because Russian central Bank handles payments means the payments made by EU for the gas in their currency(euro) will be domiciled inside the Russian central bank or what?
Do you even know how banking works?
Russian central banks just have payments account it manages domiciled in the paying country,
Which Is what the west and its allies has frozen!

You are really slow for someone who wants to make a counter argument.

Do you even know how payment systems work at all?

Makes me wonder why payments in foreign currency easily get converted to the country of the receiving country and domiciled in their account.

Same Ruble that Russia is demanding payments in. The conversion would simply be from Euros to Rubles. Or has Russia stopped using the Rubles?

You are simply a dumbo

joyla8:
Putin is out of his mind, damn

How my dear? if you were in his position under theses circumstances of severe sanctions, what will you do to help your country?

Igbofam:


You are really slow for someone who wants to make a counter argument.

Do you even know how payment systems work at all?

Makes me wonder why payments in foreign currency easily get converted to the country of the receiving country and domiciled in their account.

Same Ruble that Russia is demanding payments in. The conversion would simply be from Euros to Rubles. Or has Russia stopped using the Rubles?

You are simply a dumbo

Incoherent trash.
How do you convert money you can't access ehn you this mugu?
Making them pay in rubles mean they have to open ruble accounts and bring payments to Russian central bank direct to be able to access the rubles,giving full autonomy to Russian central bank over the forex they bring,not just doing accounting in accounts domiciled in foreign countries banks,
Mugu.

CoronaVirusPro:
It will only give birth to alternatives.


Canada LNG warming up.

Add cost of logistics too in your display of naivety.
They can warm up all they like,na their citizens go hear am with new higher gas prices.

SeaTrade:
Incoherent trash.
How do you convert money you can't access ehn you this mugu?
Making them pay in rubles mean they have to open ruble accounts and bring payments to Russian central bank direct to be able to access the rubles,giving full autonomy to Russian central bank over the cash,not just doing accounting in accounts domiciled in foreign countries banks,
Mugu.

Incoherent trash!

Has any sanction been placed on the EUROS?
Has any EU country with the Gas supply contract with Russia sanctioned their own Euros?

How then can Russia not access such payments made in Euros?

Is EU paying Russia in Dollars? Last time I checked only Dollars cannot be accessed by Russia due to the ban on it by USA against them.

If your pea sized brain cannot simply fathom that what Russia simply wants to do is use EU to help bolster the Rubles and has nothing to do with not having access to payments made in Euros then I cannot help your obtuse DNA.

Mugu raised to power infinity.

Igbofam:


You wish they would freeze to death but guess what, Summer is virtually upon them in Europe

How would they freeze to death in Summer idiota?

Opono!! summer starts towards ending of June. April first is the deadline. I expect eu citizens to storm the streets and kickout there foolish leaders, before they freeze to death. Protest has already started in Albania, Italy, Greece against, there anti people policy.
The so called enlightened EU leaders are asking there citizens to go back to the use of firewood, for cooking. E go shock una

Great0ne1:

Opono!! summer starts towards ending of June. April first is the deadline. I expect eu citizens to storm the streets and kickout there foolish leaders, before they freeze to death. Protest has already started in Albania, Turkey, Italy, Greece against, there anti people policy.

Oponu!!

Summer is VIRTUALLY (ALMOST, NEARLY) upon them......

English shouldn't be this hard.

E say na storm the streets and kick out their foolish leaders

EU will not pay Russia in rubles! Choke on it.

Igbofam:


Oponu!!

Summer is VIRTUALLY (ALMOST, NEARLY) upon them......

English shouldn't be this hard.

E say na storm the streets and kick out their foolish leaders

EU will not pay Russia in rubles! Choke on it.

Okpo!! Will you provide your balls, as a source of energy, for well over 2 months before summer comes ? Are you also going to do that after summer ? Can't you see how foolish you seem ?

Great0ne1:

Okpo!! Will you provide your balls, as a source of energy, for well over 2 months before summer comes ? Are you also going to do that after summer ? Can't you see how foolish you seem ?

Iti! Whatever happened to electric heaters.

You see why you don't have sense?

Igbofam:


Iti! Whatever happened to electric heaters.

You see why you don't have sense?

DUMBOLA!!! Oil and gas remains the major source of energy for EU countries. More than 75% of Germany's energy consumption came from fossils(primarily oil and gas from Russia)
https://en.m.wikipedia.org/wiki/Energy_in_Germany#:~:text=As%20of%202021%2C%20German%20primary,energy%20and%2016.1%25%20from%20renewables.

You keep acting dump and embarrassing yourself .

Great0ne1:

DUMBOLA!!! Oil and gas remains the major source of energy for EU countries. More than 75% of Germany's energy consumption came from fossils(primarily oil and gas from Russia)
https://en.m.wikipedia.org/wiki/Energy_in_Germany#:~:text=As%20of%202021%2C%20German%20primary,energy%20and%2016.1%25%20from%20renewables.

You keep acting dump and embarrassing yourself .

The word is DUMB and not dump oga doofus.

Is Russia the only Oil producer in the world?

The focus is Gas and not oil because EU can always source oil from other producing countries.

Their concern is the gas and incidentally USA produces a whole lot more Gas than Russia which is why the same US has not only increased Oil supply but also increased Gas supply to Europe.

Russia is simply trying to fight a proxy war with USA in terms of Oil and Gas supply and they cannot beat USA in any of them.

EU increased the cost of gas because already they are shifting their supply source to USA (for now)

Doofus extraordinaire stop embarrassing yourself na.