Russia to switch European payments for gas supplies to roubles

Re:Russia to switch European payments for gas supplies to ro... by iamsanteri on Wednesday March 23, 2022 @11:17AM (#30779340)

Dear hackers, does anyone have enough of an analytical eye or knowledge from around the topic to open up what this means in more detail?

I know this can prop up the rouble which is probably the goal, as well as probably indicates that Kremlin is willing to close the gas supply completely if this request will not be complied with. I’m wondering about if this could however backfire somehow towards Russia in some unexpected ways it did not completely think through?

I guess the question is here whether and how much depended EU is on this gas now…

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Re:Russia to switch European payments for gas supplies to ro... by Someone on Wednesday March 23, 2022 @11:51AM (#30779737)

I don’t see Russia stop selling gas and oil to the EU. Russia needs the money as much as the EU needs the gas. They may start using an artificial exchange rate for the rouble, though.

About 40% of EU gas usage (and over a quarter of its oil usage) is Russian gas (https://www.weforum.org/agenda/2022/03/eu-energy-russia-oil-...).

They plan to reduce that by ⅔ by the end of the year (https://ec.europa.eu/commission/presscorner/detail/%5Beuropa...)

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Re:Russia to switch European payments for gas supplies to ro... by iamsanteri on Wednesday March 23, 2022 @12:38PM (#30780338)

Wow thats an insane change in just a year. Jesus, it looks like Russia is really driving itself into a corner and the time is ticking.

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Re:Russia to switch European payments for gas supplies to ro... by mediumsmart on Wednesday March 23, 2022 @01:32PM (#30781042)

So true, the chess clock is ticking while the west is playing lego in their corner.

>The Ruble strengthened against the $: from 104R to 97R in matter of less than two hours after president #Putin's historical announcement on gas being sold only in Rubles to the West. De-dollarization.

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Re:Russia to switch European payments for gas supplies to ro... by bigbizisverywyz on Friday March 25, 2022 @07:38AM (#30800868)

The EU and other counties can get the gas and (especially) oil elsewhere, admittedly at not such a cheap price.

Russia however has just alienated its biggest paying customers, and for what?

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