Pay in rubles or have your gas shut off by April

[Nerdy doctor]

Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.
Europe has kicked against this with Germany saying its being blackmailed by this move. What other choice does Europe has with Russia alone selling about 40% of energy to the world.

[Gyfts]

Russia walked this backed: https://www.reuters.com/business/energy/russia-will-not-demand-immediate-switch-gas-payments-roubles-kremlin-2022-03-30/

Their messaging is confusing and their economy is too fragile to further restrict themselves from global commerce, so you can expect something like this to not go through. It sounded like an empty threat from the start and a mere desperate attempt to avoid sanctions. Appears Russia still has India and China open to them for unrestricted trading, but they cannot reasonable expect to cut off trading from the rest of Europe and keep their economy afloat.

[teosanru]

Russia walked this backed: https://www.reuters.com/business/energy/russia-will-not-demand-immediate-switch-gas-payments-roubles-kremlin-2022-03-30/

Their messaging is confusing and their economy is too fragile to further restrict themselves from global commerce, so you can expect something like this to not go through. It sounded like an empty threat from the start and a mere desperate attempt to avoid sanctions. Appears Russia still has India and China open to them for unrestricted trading, but they cannot reasonable expect to cut off trading from the rest of Europe and keep their economy afloat.

I think for the time being they might have stayed away from this decision but eventually as their global commerce becomes normal I think you can expect they will easily implement this rule of paying only in rubles, one reason for that is also because they want to strengthen their currency's value as well which has actually taken a great toll after the recent war scenario, but for now they want to trade despite sanctions so atleast inflow of money isn't stopped altogether.

[retreat]

Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.
Europe has kicked against this with Germany saying its being blackmailed by this move. What other choice does Europe has with Russia alone selling about 40% of energy to the world.

To be honest, if European countries don't want to freeze to death then they inevitably have to obey the rules set by Putin. This step actually looks cruel but I see this is the last step from Putin to escape the sanctions imposed on Russia.

[_act_]

Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.

It will only take time, Putin is not doing his country good, he can look like he is winning now but the future would tell. I wish Russians to see what Putin is getting them into.

To be honest, if European countries don't want to freeze to death then they inevitably have to obey the rules set by Putin. This step actually looks cruel but I see this is the last step from Putin to escape the sanctions imposed on Russia.

It is totally mandatory but let us see what will happen. The EU and other European countries would have been strategizing what they will do, but I lack any comment about this for now and you may be wrong.

[Markinzo]

Iike our people will always say: you can't easily beat to a pub the man that weild the handle of the sword. EU and other countries that are major dependants  of Russia's energy wouldn't say they never envinced this coming even as they were throwing sanctions upon sanctions on Russia.

As far as China and India is concerned, i think Russia is still in good business with their energy sells.

This is war, and everyone will definitely try to make use of every strategy possibly with their reach to winning it, and that's what I see Russia doing.

[stompix]

To be honest, if European countries don't want to freeze to death then they inevitably have to obey the rules set by Putin. This step actually looks cruel but I see this is the last step from Putin to escape the sanctions imposed on Russia.

Yeah right, the same bullsihit about freezing to death without Russian gas.
I wonder how did we manage before when the USSR was not selling one cubic meter of gas to the western world, oh wait, what happened afterward? One crumbled and the other was perfectly fine!

In 2019, natural gas accounted for 32% of the EU final energy consumption in households, electricity for 25%, renewables for 20% and petroleum products for 12%.The main use of energy by households in the EU in 2019 was for heating their homes (64% of final energy consumption in the residential sector), with renewables accounting for more than a quarter (28%) of EU household's space heating consumption.

So split that by 40% as that's how much gas we import from Russia and we have something like 32% of 40%.
How please do tell us how we're all going to freeze to death from a 12% cut in gas used in households. Besides, with heating you can always use something else, good luck eating tree bark once you don't have anything else to sell other than mail order brides.

As far as China and India is concerned, i think Russia is still in good business with their energy sells.

And how are they going to do so? By fueling balloons and sending them over the border? Carrying oil in their pockets?
Suddenly Russia will be able to export 75% of the gas over inexistent pipelines but Europe can't replace 40% of theirs.

[gantez]

Iike our people will always say: you can't easily beat to a pub the man that weild the handle of the sword. EU and other countries that are major dependants  of Russia's energy wouldn't say they never envinced this coming even as they were throwing sanctions upon sanctions on Russia.

As far as China and India is concerned, i think Russia is still in good business with their energy sells.

This is war, and everyone will definitely try to make use of every strategy possibly with their reach to winning it, and that's what I see Russia doing.

And what do you think about now that there are news that Russian Army are likely not taking orders and command and likely not going forward in the fight. I think this could be a wrong signal for Russia and may likely work against them. The gas supply to China isn't really an easy business that seems easily spoken, no matter how you look at it, Russia need EU for supply and they also need Russia for the gas.

[goaldigger]

Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.
Europe has kicked against this with Germany saying its being blackmailed by this move. What other choice does Europe has with Russia alone selling about 40% of energy to the world.

To be honest, if European countries don't want to freeze to death then they inevitably have to obey the rules set by Putin. This step actually looks cruel but I see this is the last step from Putin to escape the sanctions imposed on Russia.

Europe still have other source of gas, they wont Freeze to death as you think though they should reconcile so people in Europe can still have a cheaper cost of petroleum. With Russia, they are on the edge of sinking because of the sanctions and if they keep pushing on this one, they’ll still suffer later on. EU and Russia needs each other, most of the imports in Russia came from western countries and with EU, they rely on the gas of Russia for over a decade now so this conflict should not last or else EU and the rest of the world will experience shortages on the supply which can affect many economies.

[hatshepsut93]

If this will lead to halting they supply Russian gas, Europe will take a huge short-term economic hit from a sudden stop of many of their industries, but it will stimulate them to immediately solve their dependency. They will quickly build renewables and other sources of energy, as well as increase their alternative sources of gas. EU will withstand this crisis, it will not be pretty, but they are very rich so they can afford setbacks. Meanwhile Russian economy will just accelerate its freefall.

[Oceat]

Russia walked this backed: https://www.reuters.com/business/energy/russia-will-not-demand-immediate-switch-gas-payments-roubles-kremlin-2022-03-30/

Their messaging is confusing and their economy is too fragile to further restrict themselves from global commerce, so you can expect something like this to not go through. It sounded like an empty threat from the start and a mere desperate attempt to avoid sanctions. Appears Russia still has India and China open to them for unrestricted trading, but they cannot reasonable expect to cut off trading from the rest of Europe and keep their economy afloat.

I think for the time being they might have stayed away from this decision but eventually as their global commerce becomes normal I think you can expect they will easily implement this rule of paying only in rubles, one reason for that is also because they want to strengthen their currency's value as well which has actually taken a great toll after the recent war scenario, but for now they want to trade despite sanctions so atleast inflow of money isn't stopped altogether.

That's most likely going to happen in the future if inflow of cash is limited due to their conflicts but I'm also thinking that they want people to think that they aren't that desperate or as bad as people think but what happens happened already. But for now, Europe needed that gas energy or else they are the ones that's going to suffer too. Russia still has India and China to continue their business but paying in rubles is different.

[Hydrogen]

Populations in the united and states and india have roughly doubled from the 1950s to the present.

I would guess a high percentage of europe was heated by firewood, with renewable forests being grown to satisfy demand prior to 1950. Over time population growth and a decline of renewable tree markets, led to europe becoming more dependent on natural gas. It is more convenient to use natural gas for heating purposes, than it is to chop and haul firewood or grow renewable forests for fuel. Its normal for natural market forces to select the more convenient option as the norm.

One option for europe could be to implement fast growing bamboo as a fuel source for heating purposes. Bamboo has a high growth rate, can be grown affordably and grows well in a variety of climates. Over time a stock of bamboo could be grown and harvested to provide fuel to replace natural gas. Excess bamboo could also be used for a variety of purposes.

The original "pay in rubles" headline may have been a calculated move. Russia undoubtedly wants the ruble to trend higher, which is correlated with higher buying of the ruble. And so if they announce they will only deal in rubles, there are many who will only see the 1st headline, and not the 2nd headline that corrects the 1st. Who will buy rubles for oil exchange. Which will push the ruble higher. its a common tactic in news cycles, where the original headline may deliberately be false and misleading in the hope that not many see the 2nd headline, which corrects it.

[24Kt]

If this will lead to halting they supply Russian gas, Europe will take a huge short-term economic hit from a sudden stop of many of their industries, but it will stimulate them to immediately solve their dependency. They will quickly build renewables and other sources of energy, as well as increase their alternative sources of gas. EU will withstand this crisis, it will not be pretty, but they are very rich so they can afford setbacks. Meanwhile Russian economy will just accelerate its freefall.

I believe that's one way to act on this impending event. Renewable or other energy options will be explored faster than usual. It is not dead end for them. Russian gas is not the only source of energy. They will find a way how to overcome this bottleneck if in case Russia is serious about this implementation. They may even find out that there are better alternatives to the Russian supply.

[odolvlobo]

Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.
Europe has kicked against this with Germany saying its being blackmailed by this move. What other choice does Europe has with Russia alone selling about 40% of energy to the world.

I don't know the details, but honestly I don't think it is an unreasonable position. Is it any different than American exports having to be paid for with dollars?

[bocyaj]

Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.
Europe has kicked against this with Germany saying its being blackmailed by this move. What other choice does Europe has with Russia alone selling about 40% of energy to the world.

Actually this was the expected move done by the Putin.When the rubles  price was further reduced ,the Russia government should react for this.Because when the price was further crashed,they can’t do anything good for them.The government economy will be collapsed with huge fall.The government will struggle to get any offer from government exchanges also.

[Darker45]

I have a feeling some, or perhaps many, gas companies might accede to the Russian demand, albeit secretly. And this is probably temporary, too. Things are happening abruptly and while there must be alternative sources and ways to do away with Russian gas, for the time being, it might do more good than harm if they acquiesce. But, overall, dependence on Russian gas will definitely start to wane down because of this invasion.

And this leverage by the Russians, while strong, is also a double-edged sword. It has its return damage.

[davis196]

Yeah right, the same bullsihit about freezing to death without Russian gas.
I wonder how did we manage before when the USSR was not selling one cubic meter of gas to the western world, oh wait, what happened afterward? One crumbled and the other was perfectly fine!

The USSR actually did sell oil and natural gas to western Europe.The decreasing oil prices during the 80s had a major negative impact on the soviet economy.
Anyway,the problem is where to buy rubles,in order to pay for the natural gas.The Russian central bank is under heavy sanctions,so the western banks cannot buy rubles from there.
I'm 99% sure that the EU will refuse to pay with rubles,but will the Russians stop the gas and get rid of their number one income source?It has been said,that Asian countries cannot fully replace European countries as natural gas buyers.

[uneng]

Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.
Europe has kicked against this with Germany saying its being blackmailed by this move. What other choice does Europe has with Russia alone selling about 40% of energy to the world.

To be honest, if European countries don't want to freeze to death then they inevitably have to obey the rules set by Putin. This step actually looks cruel but I see this is the last step from Putin to escape the sanctions imposed on Russia.

Gas is very important and makes life much more confortable during winter season, but isn't it too drastic to say "freeze to death"?

Sorry, I live in a warm country, so I might be saying something wrong on this matter, but since people were able to live in Europe during middle ages without gas, but only wood and coal to keep the fire burning, wouldn't it be possible to do a temporary sacrifice for now until an alternative to Russia appears or is built by the occident?

Any weakness demonstration towards Russia is too dangerous now. The world should be concerned in showing Putin his influence over another nations isn't unlimited and decisive as he might imagine.

[Wexnident]

Well, I wouldn't be surprised if some companies were to actually do so, but I reckon they'd have to do something about it in the short term, so even if they did accede to the demands of Russia, it'd only be for a short time. Who knows, Europe might just develop alternate methods for energy/fuel due to the issue, though as I said in the short term, they have no choice but to rely on Russia. Well with said action Putin is just putting Russia in a much worse place from it's originally bad position.

[Kakmakr]

I was thinking how stupid the Russian government must be to anger their markets for Oil and Gas in the EU, because after this conflict ....they will have lost market share in Europe and this decision will hurt them in the long run. 

In any way, I do not think there are enough liquidity on Russian exchanges to convert the bitcoins back to Ruble .... they will have to transfer those coins to other "Russian friendly" exchanges to off ramp it into Fiat currencies.