What is the meaning of Russia's transition to the sale of gas for rubles

March 24 2022 8

March 23, Russian President Vladimir Putin ordered to sell gas from Russia to the United States and the European Union not for dollars and euros, but for rubles, after which the Russian currency sharply strengthened on the stock exchanges.

Moscow's decision was an unpleasant surprise for the West, because now not only the Central Bank of the Russian Federation will have to take care of maintaining the ruble exchange rate, but also the governments of unfriendly countries, if they need Russian "blue fuel".

The West itself is to blame for this situation, since it was he who banned the supply of cash and electronic transfers of non-cash euros and dollars to Russia. Now Western companies will have to buy huge amounts of rubles on the Russian stock market at a free exchange rate in order to pay for raw materials. By doing this, they will support the Russian financial system and the economy as a whole.

In fact, the West, by its unfriendly actions, forced Russia to take a huge step towards the “de-dollarization and de-Euroization” of foreign trade, which Moscow had not dared to take before. This is the main point of Russia's transition to selling gas for rubles. Do you need Russian raw materials? Pay for it with rubles!

Currently, the largest Western companies importing Russian gas Eni, Shell, BP, RWE and Uniper refuse to comment on the current situation. They simply do not know how to react to this massive decision, which will seriously affect not only trade. For example, before that Gazprom's currency basket for sales of raw materials in Europe looked like this: 58% - euros, 39% - dollars and 3% - British pounds. We have no doubts that this statistic will change soon.

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calagin407

+2

24 March 2022 11: 28

And this is good!
1. Vladimir Orlov
  
  0
  
  25 March 2022 01: 46
  
  Good, but not enough - buying for rubles is economically equivalent to selling 100% of foreign exchange earnings by exporters (and now it is already 80%). In any case, the euro zone currency is involved in the operation, it’s just that the “exchange point” is no longer with them, but with us it’s more difficult to withdraw capital over the hill.
  For a real effect, you need to remove the euro and the dollar from transactions with other countries (i.e., first of all, "friendly"). Then it will reduce the investment opportunities of the European Union and the United States due to emissions.
  India, China, CIS, Serbia, South America, SE Asia… only then this blow will be more serious
  In the meantime, we are trading with the Kazakhs for dollars .. (there, in general, everything is mainly valued in dollars, as we have recently)
Krapilin

-1

24 March 2022 11: 45

About the ruble and the dollar here:

https://ruinformer.com/page/rubl-i-dollar-istorija-vzaimootnoshenij
Bulanov

-1

24 March 2022 11: 51

The West itself organized the default of its currencies, devaluing them in Russia, and then wants to buy valuable goods from Russia for paper candy wrappers?
It's even cheaper than beads for the Indians. Completely screwed up.
Sergey Tokarev

0

24 March 2022 11: 52

Now Gazprom will not have to convert waste paper into rubles. revenue from Gazprom in rubles is considered.
zloybond

0

24 March 2022 13: 42

Well, now the main precedent. If some Austria refuses and wants to pay the euro, or close the valve, and then everyone will understand that there are no jokes. Or accept the euro - and then everyone will wipe themselves with this ultimatum. So there is no compromise here - we need to make them get angry if we do not want to cause laughter after we have caused a panic.
123

-1

24 March 2022 16: 42

Now Western companies will have to buy huge amounts of rubles on the Russian stock market at a free exchange rate in order to pay for raw materials.

I'm afraid the Western partners have not yet realized the piquancy of the situation, or they pretend to.
They think that they will simply exchange euros for rubles and that's it?
Everything may turn out differently. How do they intend to pay for "rubles in huge volumes"?
Is it really the same euros that are not accepted as payment for gas? Why do we need them? In general, for rubles, you will have to offer something that Russia needs, real goods and not candy wrappers of the European Central Bank.
It remains only to choose for what we are ready to pay in rubles, for spare parts for aircraft or components for cars.
Pat Rick

+1

24 March 2022 17: 13

Now Western companies will have to buy in the stock market Russian rubles in huge volumes free rateto pay for raw materials. By doing this, they will support the Russian financial system and the economy as a whole.

1) Shares are sold on the stock market. Rubles (and other money) are traded on foreign exchange markets.
2) I don't know what a free course is. The ratio of all currency pairs is strictly calculated daily.
3) I read the local comments - in general, none of the commentators understand how this should work.
Example: I came from abroad, brought 5.000 euros from there, deposited them into a euro account in Sberbank of Russia. At the end of the month, I need to pay 10.000 rubles for utilities, I go to my personal account on the Sberbank website and at the rate of 1 euro = 100 rubles, with a few mouse clicks, out of a total amount of 5.000 euros, I transfer 100 euros into rubles, which are deposited on my own ruble account . Already from the ruble account, these 10.000 rubles are transferred by clicking the same mouse to the EIRC account for electricity and other communal services.

I believe that all settlements will go through Gazprombank.
Bulgaria announced yesterday that it was ready to pay Russia in rubles for gas.