The first country in Europe to pay for gas to Russia in rubles

[Gozie51]

Fake news is one challenge that the media is having. People want to hype certain things from the negative side to gain popularity especially the bloggers and those twitter handles. Now the Russian ruble is being hyped for popularity so that more countries will consider to buy Russia gas with it. This is looking like a propaganda to revive the ruble I think so.

[Hydrogen]

It can be said that European sanctions against Russia have failed.

It should be mentioned russia is also the #1 exporter of uranium fuel for nuclear power plants.

Russia leads the world at nuclear-reactor exports

China is its only real competitor

THE nuclear power industry, which had been in the doldrums since the 1980s, suffered a devastating blow in 2011 when a tsunami engulfed the Fukushima power plant in Japan, ultimately causing a meltdown. The amount of electricity generated by nuclear power worldwide plunged 11% in two years, and has not recovered since. Within this declining industry, one country now dominates the market for design and export of nuclear plants: Russia.

Flat domestic demand for electricity has curtailed construction of new plants at home, so Rosatom, Russia’s state-owned nuclear-power company, has been flogging its wares abroad. It is focused on what some call the “great grand middle”: countries that are close allies of neither the United States nor Russia. In April Russia started building Turkey’s first nuclear plant, worth $20bn. Its first reactor is due for completion in 2023. Rosatom says it has 33 new plants on its order book, worth some $130bn. A dozen are under construction, including in Bangladesh, India and Hungary.

https://www.economist.com/graphic-detail/2018/08/07/russia-leads-the-world-at-nuclear-reactor-exports

If sanctions are to have a chance of success, perhaps russia's global monopoly of the nuclear fuel market can be addressed.

It is premature to say if sanctions can succeed. Many different things can still happen, that will alter the course of events.



The russian ruble appears on a path to recovery. While the vatican may not be buying rubles, to stabilize its value, it would appear someone out there is.

[el kaka22]

Vatican is not related to any nation directly, even though they are in Italy, they are their own nation basically, or state, or whatever you want to call them. It is not really a big deal that they would still get rubles because I never believed that they were part of the sanctions to begin with. However, other European nations do need gas, and if Russia only works with rubles then those western nations will have to deal with rubles all over again.

The fact that ruble gained so much power so quickly back to where it was is proof that ruble and even Russian economy wasn't as impacted as people believe it would be, I can't really say much else about it and feel sorry for the situation in Ukraine.

[LeGaulois]

Guys.

The gas agreements are made in euros and as Russia has to respect the agreements, they cannot change anything (on the risk of financial penalties). This is how gas purchases are made in Europe. so no, European countries are not going to pay with Russian money.

Even if the Russians decide to stop the supply, this cannot be done in one day, it takes at least one month to stop the machines. Europe has enough gas until this summer and during this period we use a lot less gas volume until the next winter. Secondly, Russia isn't the center of gravity regarding this resource. There are alternative suppliers (USA,...)

Applying this measure would imply a situation of instability and deprive Russia of a considerable financial source. Moreover, contrary to the news, some Russian banks have so far been unaffected by the sanctions and are able to receive payments in euros and convert them into rubles.

[Vaskiy]

I don't know how far this is true, based on the search I found there is only one gas station in Vatican. Even if vatican buy gas with Rubles, this isn't gonna make a big impact. European countries aren't making trade and Asian countries keep them prepared which is the reason for the recovery of Rubles even at the worst case scenario of sanction.

[Furious 7]

Putin has already said he doesn't want to give charity and he's set this to be even stronger now. it seems that apart from the Vatican there are several other countries that are starting to surrender to it, one of which is Slovakia now. I read articles that said they had given up and if it was possible to bring Russian gas back into existence they would pay in rubles as Putin had determined.
This is indeed quite risky for them, but on the other hand, it seems that Slovakia still cannot live on Russian gas because 85% of their gas supply is imported from there.

[DVlog]

According to media reports, the Vatican Bank has accepted payments for Russian gas in rubles.
The source also said that the Vatican bought rubles from the Central Bank of Russia for the equivalent of 10 million euros and that the Vatican has completed all the necessary steps in the method of purchasing gas in rubles.

Currently the news has not been confirmed by either party, but if this is true and creates a domino effect. It can be said that European sanctions against Russia have failed.

source: https://iravaban.net/en/375887.html

So western sanctions failed to destroy the Russian economy. Now it seems this war was actually profitable for Putin. All those who were calling Putin a mad man and responsible for the downfall of Russia's economy now can enjoy the flourishment of rubles. West can try to find an alternative to Russian gas but they will never match the cost of Russian gas.

Fortunately you are wrong.
Russians do have bear the weight of the sanctions ofcourse and their economy is not just being destroyed but also these are causing long term effects. Some countries would ofcourse agree to pay them in rubles but this would only give a small pump to their already destroyed economy.
There is definitely a rebound of Russian Ruble and the price is increasing but this does not mean that the value would go back even if there are countries like India, China they would still need much more support to make their economy better and stronger.

So how did the price of rubles come back to the same place that was before the start of the war? How did Putin manage to recover his 40%-50% fall within a month? There won't be any long-term effects because there won't be any real replacement for Russian gas. The USA could provide little support for a very short time only. Russian gas is cheap and EU need that gas to run their economy. There is not any alternative at least till now.

[Sithara007]

So how did the price of rubles come back to the same place that was before the start of the war? How did Putin manage to recover his 40%-50% fall within a month? There won't be any long-term effects because there won't be any real replacement for Russian gas. The USA could provide little support for a very short time only. Russian gas is cheap and EU need that gas to run their economy. There is not any alternative at least till now.

Difficult to say whether the current exchange rate for Rubles can be sustained. Even in 2014, the RUR exchange rates were steady for a few months, before collapsing from 1 USD = 30 RUR to 1 USD = 70 RUR. It is difficult to say whether the exchange rates staying at these levels is due to the strength of the Ruble, or due to the Russian government burning their forex reserves to support it. If the latter case is true, then I don't expect the current exchange rates to hold for too long. A part of their reserves have been frozen as a results of the sanctions and embargoes.

[Joshapat]

We are still waiting for official confirmation from Vatican or Russia. If this news is true of course It can be said that the European sanctions against Russia have failed. as we know that the vatican is a very influential country in europe and even the world so if they have a deal with russia it will have a big impact on other countries and will have a domino effect.

[LUCKMCFLY]

Well this is something that does not surprise me at all, the Vatican with the power it has and the money it has can buy gasoline from any country it wants, what surprises me is that it must be somewhat impartial, but since everything is a business A At first glance, they don't care. On the one hand they are proclaiming no to war and on the other hand they buy from the wrong people, this is something incongruous, and it is time for the whole world to realize that the Vatican is the most corrupt in the world, they hide behind a religion to do that and many more things that are not allowed.

[TheNineClub]

According to media reports, the Vatican Bank has accepted payments for Russian gas in rubles.
The source also said that the Vatican bought rubles from the Central Bank of Russia for the equivalent of 10 million euros and that the Vatican has completed all the necessary steps in the method of purchasing gas in rubles.

Currently the news has not been confirmed by either party, but if this is true and creates a domino effect. It can be said that European sanctions against Russia have failed.

source: https://iravaban.net/en/375887.html

Until we get a definitive confirmation, we can't really accuse. However, if it is true, I can't really be surprised by it. After all, the catholic church (or any other church) is not really altruistic as they portray themselves to be and mostly work for its own interests. Their condemnation of the war was lackluster and their overall value to the general public is completely unexistent. So buying gas for Rbles would definitely not be beneath them.

[Kakmakr]

The Vatican will never do that, because they are Catholics and there are only an estimated 140 000 Catholics left in Russia (0.1% of the total population.) Russian Orthodoxy make up almost 86.7% of the religion used in Russia.

So yea... I see someone already figured out that this is fake news, but I just wanted to show that there would not be any religious reasons for the Vatican to do that. 

[Rikafip]

Until we get a definitive confirmation, we can't really accuse. However, if it is true, I can't really be surprised by it. After all, the catholic church (or any other church) is not really altruistic as they portray themselves to be and mostly work for its own interests. Their condemnation of the war was lackluster and their overall value to the general public is completely unexistent. So buying gas for Rbles would definitely not be beneath them.

According to this article the Russian guy who started this rumour  confirmed that it's been a joke. Its more rule than exception, that some nonsense shared on social media goes viral, and even the choice of the country tell us that this has been a joke. I do agree though that. Agree with the rest of the stuff though.

The Vatican will never do that, because they are Catholics and there are only an estimated 140 000 Catholics left in Russia (0.1% of the total population.) Russian Orthodoxy make up almost 86.7% of the religion used in Russia.

Vatican will never do that because Italy takes care of that stuff from them but even if they did, number of Catholics in Russia wouldn't be any deciding factor.

[Wong Gendheng]

As we know that the vatican is a country that is completely bordered or surrounded by italy, and italy supports europe which gives strict sanctions to russia, i believe this is difficult to happen because of vatican dependence on italy, moreover russia and vatican have not provided official confirmation so this is just issue.

[DrBeer]

Putin has already said he doesn't want to give charity and he's set this to be even stronger now. it seems that apart from the Vatican there are several other countries that are starting to surrender to it, one of which is Slovakia now. I read articles that said they had given up and if it was possible to bring Russian gas back into existence they would pay in rubles as Putin had determined.
This is indeed quite risky for them, but on the other hand, it seems that Slovakia still cannot live on Russian gas because 85% of their gas supply is imported from there.

What surprises you? There are at least 2 camps in Europe:
1. Who will sell at least their own mother for money. It's like the Vatican and the like.
2. Where Russia managed to put on "financial feeding" or collect a lot of compromising evidence on top-level politicians. So they follow all the instructions like obedient dogs.

Therefore, for me, for example, this is not something surprising. There are corrupt politicians, there are servants of the Kremlin - they fulfill their obligations to the owner. But it's good that there are not many of them, it's good that "Major Merkel of the FSB" left her post, this freed the hands of the EU.

[macson]

According to media reports, the Vatican Bank has accepted payments for Russian gas in rubles.
The source also said that the Vatican bought rubles from the Central Bank of Russia for the equivalent of 10 million euros and that the Vatican has completed all the necessary steps in the method of purchasing gas in rubles.

Currently the news has not been confirmed by either party, but if this is true and creates a domino effect. It can be said that European sanctions against Russia have failed.

source: https://iravaban.net/en/375887.html

the vatican is a religious country and what is happening between ukraine and russia is not a religious war, so we should not associate the vatican with war.  the sanctions imposed by the european union didn't fail it's just that russia had something they needed that are gas and oil, without it then the wheel of the economy will be difficult to move.

[zasad@]

The Vatican will never do that, because they are Catholics and there are only an estimated 140 000 Catholics left in Russia (0.1% of the total population.) Russian Orthodoxy make up almost 86.7% of the religion used in Russia.

So yea... I see someone already figured out that this is fake news, but I just wanted to show that there would not be any religious reasons for the Vatican to do that. 

I am writing data from the American research center
https://www.pewresearch.org/religion/2017/05/10/religious-belief-and-national-belonging-in-central-and-eastern-europe/
According to Russian data for 2021, only 15% of the population of Russia are Muslims.

[Mometaskers]

This is obviously fake. There's no way the Vatican could be buying gas from Russia directly simply because of its location, not to mention there are neighborhood far larger than the Vatican.

There are reports circulating that Hungary would be paying in rubles though that is still unconfirmed. It is far more believable than the Vatican story though, considering Hungary has several times moved in opposition to the EU in other issues.

[be.open]

There are reports circulating that Hungary would be paying in rubles though that is still unconfirmed. It is far more believable than the Vatican story though, considering Hungary has several times moved in opposition to the EU in other issues.

Hungary has a very strong nostalgia for the days of Janos Kadash and goulash communism, when cheap energy resources came from the USSR, and Hungarian goods were in great demand in the USSR. And there is dissatisfaction with their current position in the European Union.

[RealMalatesta]

There are reports circulating that Hungary would be paying in rubles though that is still unconfirmed. It is far more believable than the Vatican story though, considering Hungary has several times moved in opposition to the EU in other issues.

Hungary has a very strong nostalgia for the days of Janos Kadash and goulash communism, when cheap energy resources came from the USSR, and Hungarian goods were in great demand in the USSR. And there is dissatisfaction with their current position in the European Union.

I did not know this, was it like a more profitable place with good economy back then? Or is it doing better right now? Our nation had the same thing with another nation, but a nation that was too powerful and authoritarian, which meant that in return of being economically rich, we also had to follow another nations rule and laws and they provided a lot of rules that we should follow.

For the past 20 years or so we haven't done that and became a bit more independent which resulted with us getting poorer and poorer in exchange of being free from their grasp, they hate us now for not following them, but we hated being their puppet even more so it turned out alright.