Pay in rubles or have your gas shut off by April

[Sithara007]

And this link is interesting, well, to make it more interesting: The European Union confirmed the refusal to pay in rubles for gas from Russia

Here is also an interesting link and a week more recent - the Prime Minister of Italy says that European companies can pay for gas in rubles.

In general, European politicians say a lot of things, but at the same time, it is not politicians, but commercial companies that conclude contracts for the supply of gas.

A lot of things are left in the grey zone, open for interpretation. Many of us may have heard about the "Latvian Blend". This is a new brand of crude oil which came in to picture recently. Petroleum giant Shell PLC came up with this brand, in order to continue dealing with Russian crude. In order to avoid breaking the sanctions, Shell agreed that they will stop the purchases of Russian crude. Here "Russian crude" refers to any crude oil blend with 50.00% or more of it's input originating from Russia. So what they did, they purchased equal amount of crude from Russia and Kazakhstan, and then transported it to the port of Ventspils in Latvia. Here the crude from two different countries are blended together to make sure that 50.01% of the blend is Kazakh in origin and the remaining 49.99% is Russian. Just one example of how the politicians and businessmen continue to fool ordinary people.

[Crypto Library]

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.

No matter what they say in the end you will see that they are buying oil and gas from Russia by rubble, whether openly or secretly.  Because they have no choice but to do so.  Europe imports 40% of its oil and gas from Russia.  Europe will have to spend a lot of time looking for alternative routes and will have to pay higher prices than could be bought from Russia. I wouldn't call selling oil and gas in rubles a blackmail because if everything can be bought with USD then why not rubble?  The USD is a country's currency, the ruble is also a country's currency .

[DrBeer]

And this link is interesting, well, to make it more interesting: The European Union confirmed the refusal to pay in rubles for gas from Russia

Here is also an interesting link and a week more recent - the Prime Minister of Italy says that European companies can pay for gas in rubles.

In general, European politicians say a lot of things, but at the same time, it is not politicians, but commercial companies that conclude contracts for the supply of gas.

And in the end, no one except a couple of "Kremlin's pet dogs" pays in rubles I understand that there is a huge group of pro-Kremlin influential politicians (bought or dependent due to compromising evidence) in the EU who can lobby interests, or at least destabilize the situation with their statements . This is normal for such a global confrontation!

[eaLiTy]

~
No matter what they say in the end you will see that they are buying oil and gas from Russia by rubble, whether openly or secretly.  Because they have no choice but to do so.  Europe imports 40% of its oil and gas from Russia.  Europe will have to spend a lot of time looking for alternative routes and will have to pay higher prices than could be bought from Russia. I wouldn't call selling oil and gas in rubles a blackmail because if everything can be bought with USD then why not rubble?  The USD is a country's currency, the ruble is also a country's currency .

Ruble went down in valuation because of the restrictions imposed upon them and they can demand pay in their currency to balance that and since Russia have the upper hand because majority of the oil is imported to Europe they will be forced to comply as there is no other country that will be able to comply with the demand. If i remember correctly even OPEC rejected the proposal to increase production.

[Sithara007]

Ruble went down in valuation because of the restrictions imposed upon them and they can demand pay in their currency to balance that and since Russia have the upper hand because majority of the oil is imported to Europe they will be forced to comply as there is no other country that will be able to comply with the demand. If i remember correctly even OPEC rejected the proposal to increase production.

OPEC has production agreements with Russia and other non-OPEC oil producers. This severely limits their capability to increase the output. And it doesn't make any sense for the OPEC to bring down oil prices. Why should they agree to something that can reduce their revenue? Countries such as Saudi Arabia suffered a lot when crude oil was trading at $40 to $50 per barrel during 2014 - 2021. Now why should they let go this golden opportunity, which can reduce their budget deficit and external debt?

[be.open]

And this link is interesting, well, to make it more interesting: The European Union confirmed the refusal to pay in rubles for gas from Russia

Here is also an interesting link and a week more recent - the Prime Minister of Italy says that European companies can pay for gas in rubles.

In general, European politicians say a lot of things, but at the same time, it is not politicians, but commercial companies that conclude contracts for the supply of gas.

And in the end, no one except a couple of "Kremlin's pet dogs" pays in rubles I understand that there is a huge group of pro-Kremlin influential politicians (bought or dependent due to compromising evidence) in the EU who can lobby interests, or at least destabilize the situation with their statements . This is normal for such a global confrontation!

You are in too much of a hurry and too early to sum up. This story hasn't even really begun yet, we can say now we are witnessing a prelude, or maybe the first act. Russia has made its first move in this economic war that the West has declared against it and has imposed sanctions on all Gazprom subsidiaries in Europe and around the world. Now all long-term contracts have become invalid, because they were not signed directly with Gazprom, but with its subsidiaries, which are now under sanctions. Contracts will have to be renegotiated (or not), under the terms of Russia with payment to Gazprombank and conversion into rubles, and at other prices. Germany will no longer be able to make huge money on the reverse of Russian gas. Poland can scream all you want about its rejection of Russian gas, but the gas it received in reverse from Germany was suddenly also Russian. The next cycle of payments for gas already supplied by Russia should be in the range from 15 to 20 May. Have some patience.

[Rasa nanas]

~
No matter what they say in the end you will see that they are buying oil and gas from Russia by rubble, whether openly or secretly.  Because they have no choice but to do so.  Europe imports 40% of its oil and gas from Russia.  Europe will have to spend a lot of time looking for alternative routes and will have to pay higher prices than could be bought from Russia. I wouldn't call selling oil and gas in rubles a blackmail because if everything can be bought with USD then why not rubble?  The USD is a country's currency, the ruble is also a country's currency .

Ruble went down in valuation because of the restrictions imposed upon them and they can demand pay in their currency to balance that and since Russia have the upper hand because majority of the oil is imported to Europe they will be forced to comply as there is no other country that will be able to comply with the demand. If i remember correctly even OPEC rejected the proposal to increase production.

True, although the European Union condemned the decision but Russia must do it to balance the value of their currency. in a war situation like this the organizational regulations will not apply to a big country like Russia, this can be proven when Russia does not heed the request from the head of the UN for Russia to stop the invasion of Ukraine. I also heard that Russia left the UN Human Rights Council and also left the nuclear agreement.

[Sithara007]

You are in too much of a hurry and too early to sum up. This story hasn't even really begun yet, we can say now we are witnessing a prelude, or maybe the first act. Russia has made its first move in this economic war that the West has declared against it and has imposed sanctions on all Gazprom subsidiaries in Europe and around the world. Now all long-term contracts have become invalid, because they were not signed directly with Gazprom, but with its subsidiaries, which are now under sanctions. Contracts will have to be renegotiated (or not), under the terms of Russia with payment to Gazprombank and conversion into rubles, and at other prices. Germany will no longer be able to make huge money on the reverse of Russian gas. Poland can scream all you want about its rejection of Russian gas, but the gas it received in reverse from Germany was suddenly also Russian. The next cycle of payments for gas already supplied by Russia should be in the range from 15 to 20 May. Have some patience.

Russia should not over-react at this point. They are earning tens of billions of USD right now from the high gas prices. Let the EU pay all this amount, and in the long term it will be beneficial for Russia. I guess that the gas exports will decrease from a level of 180 billion cubic meters in 2020 to around 150 billion cubic meters by 2022. But the difference is that they earned less than $25 billion from these exports in 2020 and will earn at least $150 billion in 2022 (thanks to the higher gas prices). And back in 2020, the net profit was only around $2billion. This may go up by at least 50x in 2022.

[DrBeer]

And this link is interesting, well, to make it more interesting: The European Union confirmed the refusal to pay in rubles for gas from Russia

Here is also an interesting link and a week more recent - the Prime Minister of Italy says that European companies can pay for gas in rubles.

In general, European politicians say a lot of things, but at the same time, it is not politicians, but commercial companies that conclude contracts for the supply of gas.

A lot of things are left in the grey zone, open for interpretation. Many of us may have heard about the "Latvian Blend". This is a new brand of crude oil which came in to picture recently. Petroleum giant Shell PLC came up with this brand, in order to continue dealing with Russian crude. In order to avoid breaking the sanctions, Shell agreed that they will stop the purchases of Russian crude. Here "Russian crude" refers to any crude oil blend with 50.00% or more of it's input originating from Russia. So what they did, they purchased equal amount of crude from Russia and Kazakhstan, and then transported it to the port of Ventspils in Latvia. Here the crude from two different countries are blended together to make sure that 50.01% of the blend is Kazakh in origin and the remaining 49.99% is Russian. Just one example of how the politicians and businessmen continue to fool ordinary people.

Yes, I know about such a "mixture"! Yes, I know that in this way the EU bypasses its own sanctions. Yes, I know that there are many more "dubious" activities going on right now, from primitive deception to even sabotage. This is to be expected when huge money is circulating in this area, where there are high stakes, where sanctions create problems not only for the criminal, but, unfortunately, for the other side as well. Moreover, I know that in the modern world, especially riddled with corruption, this is "normal". But I see no reason to stop putting pressure on international terrorists, break up and replace corruption schemes, and build a safe hydrocarbon market.

[og kush420]

And this link is interesting, well, to make it more interesting: The European Union confirmed the refusal to pay in rubles for gas from Russia

Here is also an interesting link and a week more recent - the Prime Minister of Italy says that European companies can pay for gas in rubles.

In general, European politicians say a lot of things, but at the same time, it is not politicians, but commercial companies that conclude contracts for the supply of gas.

A lot of things are left in the grey zone, open for interpretation. Many of us may have heard about the "Latvian Blend". This is a new brand of crude oil which came in to picture recently. Petroleum giant Shell PLC came up with this brand, in order to continue dealing with Russian crude. In order to avoid breaking the sanctions, Shell agreed that they will stop the purchases of Russian crude. Here "Russian crude" refers to any crude oil blend with 50.00% or more of it's input originating from Russia. So what they did, they purchased equal amount of crude from Russia and Kazakhstan, and then transported it to the port of Ventspils in Latvia. Here the crude from two different countries are blended together to make sure that 50.01% of the blend is Kazakh in origin and the remaining 49.99% is Russian. Just one example of how the politicians and businessmen continue to fool ordinary people.

Yes, I know about such a "mixture"! Yes, I know that in this way the EU bypasses its own sanctions. Yes, I know that there are many more "dubious" activities going on right now, from primitive deception to even sabotage. This is to be expected when huge money is circulating in this area, where there are high stakes, where sanctions create problems not only for the criminal, but, unfortunately, for the other side as well. Moreover, I know that in the modern world, especially riddled with corruption, this is "normal". But I see no reason to stop putting pressure on international terrorists, break up and replace corruption schemes, and build a safe hydrocarbon market.

I wish the parto-dollar deal should stop - It will be a good thing for world economy. But US will never let this happen.
The parto-dollar deal is the only thing which is keeping Dollar at the top. My country wanted to trade in local currency but have seen serious threats. This won't happen. The russian - america war will be game changer.

[be.open]

Russia should not over-react at this point. They are earning tens of billions of USD right now from the high gas prices. Let the EU pay all this amount, and in the long term it will be beneficial for Russia. I guess that the gas exports will decrease from a level of 180 billion cubic meters in 2020 to around 150 billion cubic meters by 2022. But the difference is that they earned less than $25 billion from these exports in 2020 and will earn at least $150 billion in 2022 (thanks to the higher gas prices). And back in 2020, the net profit was only around $2billion. This may go up by at least 50x in 2022.

Europe is making apparently suicidal attempts to turn off Russian energy and the European economy is heading towards collapse at high speed. In such circumstances, I consider the systematic cutting off of economic ties between Russia and Europe quite reasonable, so that sinking Europe does not drag Russia along with it.

[DrBeer]

And this link is interesting, well, to make it more interesting: The European Union confirmed the refusal to pay in rubles for gas from Russia

Here is also an interesting link and a week more recent - the Prime Minister of Italy says that European companies can pay for gas in rubles.

In general, European politicians say a lot of things, but at the same time, it is not politicians, but commercial companies that conclude contracts for the supply of gas.

And in the end, no one except a couple of "Kremlin's pet dogs" pays in rubles I understand that there is a huge group of pro-Kremlin influential politicians (bought or dependent due to compromising evidence) in the EU who can lobby interests, or at least destabilize the situation with their statements . This is normal for such a global confrontation!

You are in too much of a hurry and too early to sum up. This story hasn't even really begun yet, we can say now we are witnessing a prelude, or maybe the first act. Russia has made its first move in this economic war that the West has declared against it and has imposed sanctions on all Gazprom subsidiaries in Europe and around the world. Now all long-term contracts have become invalid, because they were not signed directly with Gazprom, but with its subsidiaries, which are now under sanctions. Contracts will have to be renegotiated (or not), under the terms of Russia with payment to Gazprombank and conversion into rubles, and at other prices. Germany will no longer be able to make huge money on the reverse of Russian gas. Poland can scream all you want about its rejection of Russian gas, but the gas it received in reverse from Germany was suddenly also Russian. The next cycle of payments for gas already supplied by Russia should be in the range from 15 to 20 May. Have some patience.

Well, you hurried and confidently declared that the EU pays in rubles, the sanctions do not work, only the EU, the USA and others who supported the sanctions lost, Gazprom outplayed everyone, Russia only won in the end? Do not rush to conclusions, this is a pre-mortal activity, this happens just before death
Believe me - NOTHING will change on May 15-20! Moreover, the Kremlin lost another of its pet dogs - the former pro-Kremlin president of Hungary, now there is a normal president there, who immediately openly declared Russia's crimes, and of course he will no longer play on their side!

PS I have gained patience since childhood, since the 1980s, when all three TV channels broadcasted about "the collapse of the USA tomorrow", then I "waited" for the collapse of the dollar, then the Western world order, then the collapse of the EU So far, in the real world only the USSR collapsed, and Russia followed their path. I'll still be patient, ok!

I wish the parto-dollar deal should stop - It will be a good thing for world economy. But US will never let this happen.
The parto-dollar deal is the only thing which is keeping Dollar at the top. My country wanted to trade in local currency but have seen serious threats. This won't happen. The russian - america war will be game changer.

An amazing transition from one to another, but oh well.
Ok, the question is - who forbids you to pay with your local currency?! Well honestly? USA or still a supplier? The USA doesn't forbid you anything! For example, being in the EU, I calmly make payments with a card in my native currency in hryvnia, and banks eventually credit, for example, euros to a restaurateur. I can give many more examples - no one forbids anything to anyone. Well, except for criminals. Maybe we don't know something? Share the story of how the United States forbade you to pay with your local currency?

[mdgabrielzim]

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.

No matter what they say in the end you will see that they are buying oil and gas from Russia by rubble, whether openly or secretly.  Because they have no choice but to do so.  Europe imports 40% of its oil and gas from Russia.  Europe will have to spend a lot of time looking for alternative routes and will have to pay higher prices than could be bought from Russia. I wouldn't call selling oil and gas in rubles a blackmail because if everything can be bought with USD then why not rubble?  The USD is a country's currency, the ruble is also a country's currency .

They had hundreds of years to generate an alternative to Russian gas and they didn't. All this complacency has produced results and Europe will have to lend an arm to avoid a collapse.

[Naficopa]

An amazing transition from one to another, but oh well.
Ok, the question is - who forbids you to pay with your local currency?! Well honestly? USA or still a supplier? The USA doesn't forbid you anything! For example, being in the EU, I calmly make payments with a card in my native currency in hryvnia, and banks eventually credit, for example, euros to a restaurateur. I can give many more examples - no one forbids anything to anyone. Well, except for criminals. Maybe we don't know something? Share the story of how the United States forbade you to pay with your local currency?

That is so lame. See what crisis Pakistan is going through because of the oil deal with Russia.
Do you think me and you pay for government big deals. Oil is only purchase in Dollar and I am sure you are aware of the partrodollar deal which was done back in 70's. Time to do some research.

[DrBeer]

An amazing transition from one to another, but oh well.
Ok, the question is - who forbids you to pay with your local currency?! Well honestly? USA or still a supplier? The USA doesn't forbid you anything! For example, being in the EU, I calmly make payments with a card in my native currency in hryvnia, and banks eventually credit, for example, euros to a restaurateur. I can give many more examples - no one forbids anything to anyone. Well, except for criminals. Maybe we don't know something? Share the story of how the United States forbade you to pay with your local currency?

That is so lame. See what crisis Pakistan is going through because of the oil deal with Russia.
Do you think me and you pay for government big deals. Oil is only purchase in Dollar and I am sure you are aware of the partrodollar deal which was done back in 70's. Time to do some research.

It is quite logical that for sufficiently important resources they pay with a stable demanded currency. It can be the Dollar (the main currency of international payments), the Euro. But there cannot be a ruble or, for example, the Ukrainian hryvnia. Here on the domestic market, the produced gas or oil is sold for UAH. And the international market is used to working with a unified convenient means of payment. Or do you want to have 200 pairs of trading rates, purchases of a separate currency for a separate product? Well, let's switch to a natural exchange ?! Why money at all?

[Naficopa]

It is quite logical that for sufficiently important resources they pay with a stable demanded currency. It can be the Dollar (the main currency of international payments), the Euro. But there cannot be a ruble or, for example, the Ukrainian hryvnia. Here on the domestic market, the produced gas or oil is sold for UAH. And the international market is used to working with a unified convenient means of payment. Or do you want to have 200 pairs of trading rates, purchases of a separate currency for a separate product? Well, let's switch to a natural exchange ?! Why money at all?

All the rules are man made. And I hope these hard times will change the face of the world.
Russia need to look at their economy - they have never thought of the horrible sanctions - The war must stop now!

[Sithara007]

They had hundreds of years to generate an alternative to Russian gas and they didn't. All this complacency has produced results and Europe will have to lend an arm to avoid a collapse.

There is no viable alternative to the Russian gas. It is outright stupid to believe that pipeline gas can be replaced with LNG. To start with, neither the EU has that many LNG terminals, nor that much spare capacity exists among the LNG producers. And it is ironical that the same people who have shut down the nuclear power plants, there by increasing the dependence on the Russian gas are now pushing ahead with their plans for a total embargo on Russian energy exports. I don't understand what is going through the mind of these EU idiots. Their stupid sanctions have hurt them more than anyone else.

[galambo]

There is no viable alternative to the Russian gas. It is outright stupid to believe that pipeline gas can be replaced with LNG. To start with, neither the EU has that many LNG terminals, nor that much spare capacity exists among the LNG producers. And it is ironical that the same people who have shut down the nuclear power plants, there by increasing the dependence on the Russian gas are now pushing ahead with their plans for a total embargo on Russian energy exports. I don't understand what is going through the mind of these EU idiots. Their stupid sanctions have hurt them more than anyone else.

The only reason why EU is doing that because if ukarine falls then Russia is sitting very next to Poland and can directly attack to EU countries now. Due to this fear EU are willing to give up Russian pipeline gas and moving to super expensive LNG. These are just my few satoshis.

[be.open]

There is no viable alternative to the Russian gas. It is outright stupid to believe that pipeline gas can be replaced with LNG. To start with, neither the EU has that many LNG terminals, nor that much spare capacity exists among the LNG producers. And it is ironical that the same people who have shut down the nuclear power plants, there by increasing the dependence on the Russian gas are now pushing ahead with their plans for a total embargo on Russian energy exports. I don't understand what is going through the mind of these EU idiots. Their stupid sanctions have hurt them more than anyone else.

The only reason why EU is doing that because if ukarine falls then Russia is sitting very next to Poland and can directly attack to EU countries now. Due to this fear EU are willing to give up Russian pipeline gas and moving to super expensive LNG. These are just my few satoshis.

Do not be silly, the only reason for such suicidal behavior of Europe in general and Germany in particular is that Europe is not politically independent and Biden's hand is up to the elbow in Scholz's ass.

All of Europe to Portugal is shot through with Caliber from the Caspian Sea. Not to mention Kaliningrad and Belarus.

ps From today, Finland is in the club, gas supplies from Russia have been stopped.

[Cryptock]

They had hundreds of years to generate an alternative to Russian gas and they didn't. All this complacency has produced results and Europe will have to lend an arm to avoid a collapse.

There is no viable alternative to the Russian gas. It is outright stupid to believe that pipeline gas can be replaced with LNG. To start with, neither the EU has that many LNG terminals, nor that much spare capacity exists among the LNG producers. And it is ironical that the same people who have shut down the nuclear power plants, there by increasing the dependence on the Russian gas are now pushing ahead with their plans for a total embargo on Russian energy exports. I don't understand what is going through the mind of these EU idiots. Their stupid sanctions have hurt them more than anyone else.

Cutting off trade with russia is like jumping in the deep dark well. I am not able to understand. How EU decided to put so many sanctions on Russia - being well aware that they are their oil and gas suppliers and there is no alternative to it. Now another trouble is coming. Let's see how EU comes out of it.