President Vladimir Putin said Wednesday Russia will only accept payments in rubles for gas deliveries to "unfriendly countries", which include all EU members, after Moscow was hit by unprecedented sanctions over Ukraine.
Russia might have started this war back in October or so, and hoped for a cold winter. Waiting til almost spring was a mistake, I think. Even if they can use the natgas addiction against Europe, now they have to wait another 6 or 7 months. It’s not clear they can do that.
And that’s if China doesn’t decide to play dirty. They might, for instance, offer yuan instead, and the Russians might be forced to accept that. I mean, after all, it’s not as if anyone can buy a damned thing with a ruble right now, and “anyone” includes Russians. But they might manage to get the things they need with China’s currency. That’d be a hoot.
I guess we’ll see in a few months. What I’m seeing is a huge win for Russia and China, with some short term gains for US and Europe being the biggest loser in all this.
This is huge. Ruble already almost back to where it was pre-conflict even before this announcement.
Yeah, if Europe is forced to buy energy from Russia in roubles that will help ensure its stability and also turn it into a globally traded currency.
That’s a very laconic “if”.
Really should be a when, it’s not like Russia has anything to lose by doing that.
Russia might have started this war back in October or so, and hoped for a cold winter. Waiting til almost spring was a mistake, I think. Even if they can use the natgas addiction against Europe, now they have to wait another 6 or 7 months. It’s not clear they can do that.
And that’s if China doesn’t decide to play dirty. They might, for instance, offer yuan instead, and the Russians might be forced to accept that. I mean, after all, it’s not as if anyone can buy a damned thing with a ruble right now, and “anyone” includes Russians. But they might manage to get the things they need with China’s currency. That’d be a hoot.
I guess we’ll see in a few months. What I’m seeing is a huge win for Russia and China, with some short term gains for US and Europe being the biggest loser in all this.
Indeed when? Any day now?
We still need to heat our houses somehow.