Russia and economic war by the west

Part of the 'no Russian companies operating in UK' plan. Problem is that they have 30,000 customers here.

Spriter
@spriter99880
·
24m
Temporarily running Russian energy giant Gazprom's subsidiary Gazprom Marketing & Trading Retail Ltd. would cost the UK government about $5.3 billion, Bloomberg reported.

magnumcromagnon wrote:

https://twitter.com/Schuldensuehner/status/1506705857681186816

https://twitter.com/MoonofA/status/1506638270582890501

Putin has made it clear that gas is just the beginning. It is planned to convert the sale of ALL Russian goods and services into rubles. Fertilizers. Machinery and equipment. Metals and wood. Grain and everything else. After a while, all unfriendly countries will be able to buy something from Russia only for rubles.

And if payment cannot be made in Rubles then no doubt gold, delivered at buyers cost by air to Moscow, would be acceptable. Or maybe via the Shanghai Gold Exchange.

It does present the buyers with a very real problem, how to get the Rubles? Again buy them with gold?

Someone might not have thought this through.

JohninMK wrote:And if payment cannot be made in Rubles then no doubt gold, delivered at buyers cost by air to Moscow, would be acceptable. Or maybe via the Shanghai Gold Exchange.

It does present the buyers with a very real problem, how to get the Rubles? Again buy them with gold?

Someone might not have thought this through.

... and by the very end, if one won't need $ or E to secure himself from the currency ratio risk in energy purchase sector, why one would need those at all ?
... sooooo ... how much $ and E one would need? Weeeel ... only those used to buy direct commodities, right?
So no more money creation from thin air? Not a cent? Oh how rude is that!! Why can't we just make more money, and force our vassals to keep it in exchange for a real product?
It is unfair!

Ruble rockets on gas currency switch, 23.03.2022.

Russia unveils domestic payment mechanism for energy exports.

The ruble has surged on Wednesday after the announcement that payments for gas exports to certain Western countries will be switched to Russia’s domestic currency.

The Russian currency immediately rose to a three-week high of 95 rubles against the dollar, before settling below 100. It also gained 3.5% against the EU’s currency, trading at 110.5 rubles per euro.

The ruble plunged to historic lows earlier this month as unprecedented Western sanctions hit the Russian economy, dropping to record lows of 132 rubles per dollar and 147 rubles per euro on March 7. In mid-February, the currency’s exchange rate was around 75 rubles per dollar and 85 rubles per euro.

https://www.rt.com/business/552554-ruble-rockets-gas-currency-switch/

Growth in oil and gas prices accelerated after today's statement by the President of Russia



Energy prices in Europe and the world went up again after today's statement by the President of Russia, and growth accelerated. As Voennoye Obozreniye has already reported, Vladimir Putin today announced an instruction to transfer mutual settlements with buyers of Russian gas into rubles. The head of state emphasized that we are talking only about those countries that were previously included in the list of unfriendly. Among these are the USA, EU countries, Japan, Great Britain, Switzerland and a number of others.


Since the corresponding statement by the President of Russia, the price of gas in Europe has added $250. On the morning of March 23, 1000 cubic meters of gas on the spot was trading at about $1100, but now the price has exceeded $1350. Of course, these figures are far from the record of the last ten days of February, when gas on the European market was traded at $3500 or more, but nevertheless, prices are extremely high.

Against this background, the psychological mark of $120 per barrel was overcome by Brent oil futures for May. More recently, it has fallen below $100.

The exchange rate of the American currency fell by almost 4,5 rubles, falling below 24 rubles for the first time since February 100. At the moment, it is trading at around 99,3 rubles per dollar.

The exchange rate of the European currency fell below 108 rubles. The fall is not as big as that of the dollar - less than a ruble. Experts attribute this to the fact that the decision of the President of the Russian Federation primarily strikes at the so-called petrodollar, because now countries from the list of unfriendly countries buying oil from Russia will either have to refuse such purchases or open ruble accounts. The first option for many of these countries can lead to the collapse of the economy in the short term.

https://en.topwar.ru/193872-posle-zajavlenija-prezidenta-rossii-uskorilsja-rost-cen-na-neft-i-gaz.html

It’s fucking funny when those western incompetent losers trying so hard refuse to understand paying gas/oil in rubles.

I know this author was recommending these reforms of tax and monetary policy for the US but I think other countries would benefit including Russia.


It would further deliver a blow to the Neoliberal tyranny:


https://www.monetary.org/index.php/book-reviews/77-review-of-robert-de-fremery-s-rights-vs-privileges

GarryB wrote:
The demand for these other currencies will be good for them... and problems getting rid of dollars and euros will make them rather less desirable too... especially now that Russia will only pay foreign debt in rubles too...  but that debt wont get much bigger if europe is going to blockade Russia, yet keep buying gas.

Mind you the US does seem to be allowing Russia to pay interest on its US$ debts using its 'frozen' US$.

Lifting the curtain a little on one 'calling the tunes' group. Can't have the banks going short on some interest payments


Meanwhile reality had to intrude at some point

Levi
@Levi_godman
·
2h
Poland's PM says Germany, Austria and Hungary oppose severing trade relations with Russia


3h
Erdogan said that Turkey will not join the sanctions against the Russian Federation, as it cannot allow its citizens to freeze without Russian gas.

par far wrote:I am a little confused about the Russian gold reserves, are they in Russia or not? The assholes are trying to get it.

The central bank claims that all the gold is in Russia.

Scorpius wrote:

par far wrote:I am a little confused about the Russian gold reserves, are they in Russia or not? The assholes are trying to get it.

The central bank claims that all the gold is in Russia.

So how can they get it? Why is Boris the clown running around trying to get it?

par far wrote:
So how can they get it? Why is Boris the clown running around trying to get it?

Why is the dog barking?

Scorpius wrote:

par far wrote:
So how can they get it? Why is Boris the clown running around trying to get it?

Why is the dog barking?

I don't know, that is what I am trying to find out?

par far wrote:
I don't know, that is what I am trying to find out?

This question was the answer. No need to look for the reason for the dog's barking. You mistakenly assumed that his actions were aimed at arresting Russia's gold reserves. Although in reality this is a hype on the topic of the current agenda.

So what's the answer to the question, why is he doing this?
The same reason the dog barks: she wanted to bark.

Scorpius wrote:

par far wrote:
I don't know, that is what I am trying to find out?

This question was the answer. No need to look for the reason for the dog's barking. You mistakenly assumed that his actions were aimed at arresting Russia's gold reserves. Although in reality this is a hype on the topic of the current agenda.

So what's the answer to the question, why is he doing this?
The same reason the dog barks: she wanted to bark.

How much sure are we, that the Russian gold reserves are in Russia?

VTsIOM: 76% of Russians supported the decision to transfer payment for gas into rubles, 25.03.2022.

VTsIOM: 76% of Russians are positive about the decision to transfer gas payments into rubles.

MOSCOW, March 25 - RIA Novosti. More than three-quarters of Russians (76%) are positive about the decision to accept payments for Russian gas from unfriendly countries in rubles, and not in foreign currency, 27% of respondents believe that this will lead to a strengthening of the ruble, follows from the results of the VTsIOM survey.

The majority of Russians (91%) are aware of the transfer of payment for natural gas supplies to unfriendly countries into rubles: 54% are well aware of this, 37% have heard something, but do not know the details. 8% of respondents heard about it for the first time.

When asked how they feel about this decision, 76% of Russians answered positively, 3% - negatively, 5% expressed indifference, 14% do not know how to evaluate such a decision, 2% found it difficult to answer.

27% of respondents believe that such a decision will lead to the strengthening of the ruble, 8% - to positive consequences, 7% - to the recovery and strengthening of the economy, 5% - to independence from the dollar, 4% - to the development and strengthening of Russia.

Some survey participants believe that as a result of such a decision, they will stop buying gas from Russia, Russia's authority will grow, the financial system will change, and the value of the ruble in the global economy will increase (3% for each option).

In addition, there is an opinion that the decision to pay for gas in rubles can lead to a conflict with other countries, lower prices, easing sanctions, normalization of relations with the West, Russia's independence, an increase in living standards, an economic crisis (2% for each option).

33% of survey participants found it difficult to answer, 2% believe that nothing will change.

The initiative all-Russian survey " VTsIOM -Sputnik" was conducted on March 24 with the participation of 1600 people over 18 years old. The survey method is a telephone interview based on a stratified, two-base random sample of landline and mobile numbers. The sample was taken from the complete list of telephone numbers used in the territory of the Russian Federation. The data are weighted by probability of selection and by socio-demographic parameters. For this sample, the maximum error size with a probability of 95% does not exceed 2.5%.

https://ria.ru/20220325/opros-1780164567.html

I seem to remember someone saying "why not use Rubles for oil and gas" about a decade or two ago. I guess whoever that was, got their wish in the end.

Scorpius wrote:

par far wrote:
I don't know, that is what I am trying to find out?

This question was the answer. No need to look for the reason for the dog's barking. You mistakenly assumed that his actions were aimed at arresting Russia's gold reserves. Although in reality this is a hype on the topic of the current agenda.

So what's the answer to the question, why is he doing this?
The same reason the dog barks: she wanted to bark.

This is on the same level as the confiscation of Lavrov´s and Putin´s assets in the west. They don´t have any. It´s just a political show for the dumb sheep (= voters).

The Germs in Doucheland have capitulated lol!

How it started:

The head of the European Commission Ursula von der Leyen promised not to allow payments for Russian gas in rubles

https://en.topwar.ru/193943-glava-evrokomissii-ursula-fon-der-ljajen-poobeschala-ne-dopustit-oplaty-rossijskogo-gaza-v-rubljah.html

How it's going:

Germany backs down on payment for Russian gas in rubles

The issue of payments for natural gas supplied from Russia in rubles lies within the competence of private companies, the German government sees no need to intervene. This was stated on Friday, March 25, during a press conference by the Minister for Economic Affairs and Climate Protection of Germany, Robert Habek. The broadcast is carried out by German TV channels.

“We certainly heard the news that gas supplies should be paid only in rubles. From our point of view, this is a private legal issue, namely, the issue of compliance with the provisions of agreements,” Khabek noted.

At the same time, he recalled that most contracts provide for payment in dollars or euros. “First of all, importers are obliged to guarantee compliance with contracts,” the minister stressed. “But there is no need to intervene for the time being,” the politician concluded, adding that the Ministry of Economics is in constant contact with German energy companies.

At the same time, the politician once again stressed that he considers it premature to introduce a complete embargo on energy supplies from Russia. He stated that such measures would lead to serious consequences for the German economy.

“We are consistently moving forward and carefully weighing everything at the same time. Even if we become more independent of Russian imports, it is still too early to impose an embargo on energy carriers (from the Russian Federation), because the economic and social consequences would be too serious,” Khabek emphasized.

Nevertheless, according to the minister, Germany has already achieved significant success in reducing dependence on Russian energy supplies.

“After the expiration of contracts with Russian suppliers, companies do not renew them and switch to other suppliers. And this is happening at an insane pace, ”Khabek said. “Every supply deal that ends hurts (Russian President Vladimir) Putin.”

According to the vice-chancellor, already in the middle of this year, "imports of Russian oil to Germany are expected to be halved." By the end of the year, Germany, according to the government's calculations, will become "virtually independent" of Russian oil, he said.


http://k-politika.ru/germaniya-sdaet-nazad-v-voprose-oplaty-rossijskogo-gaza-rublyami/?utm_source=finobzor.ru