Russia’s gas ultimatum stabilizes ruble, China says
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Russia refused to sell gas for foreign currency

Russian President Vladimir Putin’s ultimatum to pay for gas in rubles hit the dollar as the main currency in world trade. This was stated by the Chinese newspaper Global Times.

“Russia’s statement about the repayment of external debt in rubles and the use of rubles as a settlement currency for the export of energy and strategic resources to “unfriendly countries and regions” has shaken the monopoly position of the dollar in the global trading and financial system. The move quickly stabilized the ruble’s exchange rate, which has now returned to pre-sanction levels.

Selling gas for rubles has a deterrent effect on Europe and the US, because the EU depends on Russian exports of oil and natural gas. Russia announced the abolition of the payment of “patent fees” for unfriendly countries and banned the export of wheat and fertilizers. The Russian Federation also announced the nationalization of US and European companies that tried to confiscate Russian accounts and assets. Russia is included in the list of 14 largest countries in the world, so its economic power should not be underestimated, the newspaper notes. “These targeted countermeasures show that Russia is fully prepared for US and EU sanctions, has a thorough and systematic response plan and a full range of countermeasures,” reports the Global Times.

The United States, EU countries and other states have imposed anti-Russian sanctions because of the special operation of the Russian Federation in Ukraine. Russian President Vladimir Putin introduced payment for gas in rubles for unfriendly countries. This initiative was approved by 76% of Russians, 27% of them said that the decision would strengthen the ruble, VCIOM found out. Alexey Antonov, an analyst at Alor Broker, admitted that the dollar in the current situation could cost both 50 and 30 rubles, they write “Days.ruwith reference to RT.

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Russian President Vladimir Putin’s ultimatum to pay for gas in rubles hit the dollar as the main currency in world trade. This was stated by the Chinese newspaper Global Times. “Russia’s statement about the repayment of external debt in rubles and the use of rubles as a settlement currency for the export of energy and strategic resources to “unfriendly countries and regions” has shaken the monopoly position of the dollar in the global trading and financial system. The move quickly stabilized the ruble’s exchange rate, which has now returned to pre-sanction levels. Selling gas for rubles has a deterrent effect on Europe and the US, because the EU depends on Russian exports of oil and natural gas. Russia announced the abolition of the payment of “patent fees” for unfriendly countries and banned the export of wheat and fertilizers. The Russian Federation also announced the nationalization of US and European companies that tried to confiscate Russian accounts and assets. Russia is included in the list of 14 largest countries in the world, so its economic power should not be underestimated, the newspaper notes. “These targeted countermeasures show that Russia is fully prepared for US and EU sanctions, has a thorough and systematic response plan and a full range of countermeasures,” reports the Global Times. The United States, EU countries and other states have imposed anti-Russian sanctions because of the special operation of the Russian Federation in Ukraine. Russian President Vladimir Putin introduced payment for gas in rubles for unfriendly countries. This initiative was approved by 76% of Russians, 27% of them said that the decision would strengthen the ruble, VCIOM found out. Analyst Alor Broker Alexei Antonov admitted that the dollar in the current situation could cost 50 and 30 rubles, they write Dni.ru with reference to RT.

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