₦airaland Forum

MILAN/BERLIN, May 20 (Reuters) - Germany and Italy told companies they could open rouble accounts to keep buying Russian gas without breaching sanctions against Moscow following discussions with the European Union, sources said.

The debate over Russia's demand that foreign buyers pay for gas in roubles has tested the resolve of European governments to take a hard line against Moscow over the war in Ukraine.

Poland, Bulgaria and Finland have refused to comply with Moscow's demand that importers pay for gas via rouble accounts with Gazprombank and their supplies have been cut.

https://www.reuters.com/markets/europe/germany-italy-approved-russian-gas-payments-after-nod-brussels-sources-2022-05-20/

Hmmm! for a while, I was wondering if the Reds don't have any sanctions of their own to the cold side of the war... I completely forgot about the Ruble deal.

This is a masterstroke!

No be like our neighbours up north who banned themselves from selling foodstuffs to the South in protest of something earlier this year and hence incurred almost millions in farm produce loss per day.

Which means, Europe still indirectly funds the war. This one go pain West sha

During a war, play a sucker to catch a sucker.

Putin Thinking DEEP

Even USA will open rouble account for other things they are still importing from Russia like fertiliser

The concerns in Europe keep growing; Russia and China have agreed a 30 year gas supply deal. Gazprom is already building the "Power of Siberia 2" Gas Pipeline which will connect to Yamal Gas Pipeline that supplies Europe.

https://amp.interestingengineering.com/russia-gas-pipeline-to-china

https://www.reuters.com/world/asia-pacific/exclusive-russia-china-agree-30-year-gas-deal-using-new-pipeline-source-2022-02-04/

What this means is, whatever amount of gas European Homes and Industries in Poland, Bulgaria, Finland, Lithuania, etc. aren't off-taking, China will keep increasing and swallowing the cheap Russian gas to further industrialise its economy.

https://www.voanews.com/amp/power-of-siberia-2-pipeline-could-see-europe-china-compete-for-russian-gas-/6402242.html

There is feasibility study that started some years ago to pipe gas from Russia to India. Although the project was abandoned in 2021 due to politics and costs. However, due to various sanctions against Russia by the collective west, the pipeline may be revisited.

https://www.dailypioneer.com/2022/india/wang-for-russia-china-india-gas-pipeline.html

It seems Russia is fully ready to turn to China, India and Indo Pacific nations for its energy markets.

Mossadd:
Even USA will open rouble account for other things they are still importing from Russia like fertiliser

Yes, urea, potash and the likes. Add uranium, titanium and other rare earth metals to the list.

But I don't think the US will open a Rubble account as it would seriously impact on and be detrimental to the dollar.

mojounited:
Yes, urea, potash and the likes. Add uranium, titanium and other rare earth metals to the list.

But I don't think the US will open a Rubble account as it would seriously impact on and be detrimental to the dollar.

They are concern about dollar and Russia concern is rubles. If they like let them not open rubble account.

Russia want to extend all her exports to unfriendly nation in Rubles.
Russia have just destroyed the world financial system and that’s the reason Swiss is now moving back.

seunny4lif:
Russia want to extend all her exports to unfriendly nation in Rubles.
Russia have just destroyed the world financial system and that’s the reason Swiss is now moving back.

Imagine if the world decides to dump dollar, what do you think will happen to US economy?

Mossadd:
Even USA will open rouble account for other things they are still importing from Russia like fertiliser

That one is obvious nah

tamdun:
Imagine if the world decides to dump dollar, what do you think will happen to US economy?

i swear

Some western elements will choke and collapse on seeing this… !!! And they said Russia would be crippled, people who think with their emotions!! Smh

It's most likely a temporary measure.

All the same, the Ruble is useless outside Russia. So what's the big deal

Whether you pay in Ruble or pay in kobo, the most important thing is that Russia is still getting paid for its energy. Cutting off dependence on Russian energy is what the West wants to achieve on the long run.

tamdun:
Imagine if the world decides to dump dollar, what do you think will happen to US economy?

Saudi was the reason we have Petrol-Dollar.
USA have destroyed many countries that tried to change that but this one they can't do anything about it

tamdun:
Imagine if the world decides to dump dollar, what do you think will happen to US economy?

Dump dollar and use what? Naira maybe. You guys don't really umderstand why things revolve around US Dollars. Try and go use Chinese currency as your base and be dead with BP from currency manipulation.

Since the beginning of the special operation in Ukraine, China has started to reduce its investments in US government bonds. The volume of such investments is already at the minimum since 2010!

Hyper-inflation incoming or Taiwan invasion incoming?