The first countries agreed to pay for Russian gas in rubles

March 24 2022 23

Russian President Putin announced the first serious steps in response to the measures introduced by Western countries economic sanctions. The most unexpected thing for the "partners" was the introduction of payment for natural gas in Russian rubles.

Officials in a number of countries greeted this change with bewilderment. This reaction gives the impression that Western policy they seriously hoped that the retaliatory measures would not affect Russian hydrocarbons, the main source of energy for European countries and Japan.

Moldavia was the quickest to orientate herself in the changing situation. So, the head of the Molodovagaz company, Vadim Cheban, almost immediately announced that payments in rubles under the current contract for the supply of Russian blue fuel would begin on May 1. However, before that, Deputy Prime Minister of Moldova Andrei Spinu explained that in March the country had already paid part of the debt to Russia in rubles.

Such accommodatingness of Moldovan officials is explained by the fact that the agreements between the Russian Federation and Moldova on repayment of the debt for previously delivered gas have not yet been fulfilled by the Moldovan side. In particular, not so long ago, the Moldovan side announced the impossibility of conducting an audit on the terms of Gazprom, despite the fact that the audit was one of the key requirements for maintaining gas supplies to Moldovan consumers.

Another country consuming Russian gas that agreed with the transition from the dollar to the ruble was Bulgaria. This was announced on Wednesday at a briefing by the Minister of Energy of the country Alexander Nikolov.

We have a financial counterparty that can make a transaction in rubles. There is no payment risk under existing contracts

- stressed the politician.

Information

Dear reader, to leave comments on the publication, you must sign in.

Krapilin

0

24 March 2022 12: 48

Rats, they are so ... in case of force majeure on board, they are very nimble.
Bulanov

-1

24 March 2022 13: 14

This is Russia's hint at that. that they agree to repay part of the debt for gas with their goods.
Igor Viktorovich Berdin

+6

24 March 2022 13: 31

Nobody is going anywhere. Russia has very strong gas positions. Almost everyone will agree and move on. And when the payment options are worked out, then the rest of the trade will switch to rubles.
1. Awaz
  
  -1
  
  25 March 2022 18: 15
  
  Well, they certainly won't pay. Many have the opportunity not to pay in rubles. And the mechanism is still not clear. If it's just the use of intermediate banks, then it's better to continue working in dollars. With banks with gaskets, just part of the money will flow into them for conversion and that's it, and Europeans will also pay in euros or dollars. It would be more important that the scheme would work in such a way that when selling something of its own to Russia, Europe sold it for rubles and then paid for gas with these rubles. But this is not possible in modern conditions. Although some countries can be tilted. Again, this requires a fairly stable exchange rate of the ruble. With such volatility, even those who agree will curse everything in the world, paying in rubles. Our authorities do not want to keep the course and cannot ... Therefore, the topic is practically unpromising.
  1. Cherry
    
    0
    
    26 March 2022 19: 47
    
    it’s better to continue working in dollars
    
    Those. donate? After all, dollars and euros will go to blocked accounts from which you can’t take them, and there’s no point - they don’t sell us anything at all for any currency. Sit and admire the growing accounts? Moreover, the sanctions will not be lifted even in the distant future. And in order to pay in rubles, they need to sell something to us for rubles - that's the point.
    1. Awaz
      
      0
      
      27 March 2022 18: 38
      
      Do you read what I write, or did you just see the phrase and download it? I repeat, there will be the same garbage with lining banks as there is now, because these dollars or euros will be blocked and it will be impossible to use them. And further down the text, as I see you did not read ...
  2. Kapany3
    
    +1
    
    27 March 2022 18: 11
    
    Remember the word "volatility" you will not become an expert - you need to remember more special words.
    Oh yes! They also need to be understood.
1_2

-2

24 March 2022 14: 57

I don’t think they will change rubles for Moldovan candy wrappers
1. weddu
  
  +4
  
  24 March 2022 23: 42
  
  Moldova sells wine, cognac, fruits, vegetables, canned food, etc. to Russia for rubles. In the US, she sells little for dollars, and she herself needs euros. It is easier for Moldova to pay in rubles. What's with the fanfiction? Where in Putin's words or in this article did you hear_read about candy wrappers?
Panikovsky

+2

24 March 2022 16: 31

The countdown has begun, there are the first bastards and mongrels, but the beginning of trouble is beginning, we will wait for other renegades that will crawl on their belly. Sanctioners, motherfucker.
Daniel

0

24 March 2022 18: 26

Gas is the beginning, then oil, uranium, fertilizers, wheat and the list goes on. But still, it’s good to be a gas station with a “dagger” in the stash.
1. calagin407
  
  -1
  
  24 March 2022 23: 41
  
  Uranium is necessary immediately for gas!
2. sgrabik
  
  0
  
  25 March 2022 06: 55
  
  It is necessary to transfer all foreign trade operations into rubles, all our goods, without exception, including oil, gas and weapons, should be sold only for rubles.
  1. Cherry
    
    -1
    
    26 March 2022 19: 49
    
    And how long ago it should have been! Gorbach also promised that the ruble would be a convertible currency.
Kofesan

0

25 March 2022 12: 06
Quote: Igor Viktorovich Berdin
Nobody is going anywhere. .... then the rest of the trade will switch to rubles.

Agree. After all, "adventures" for Geyropa are just beginning. And her utter Stupidity, multiplied by Self-confidence, gives rise to a classic question that Puzo once put into the mouth of Don Corleone:

"Why on earth do such Dummkopf (stupid. German) live out of their minds so full?"

Have you opened the box? And it turned out to be - Pandora's Box ... - and he is like that.
shiva

-1

25 March 2022 12: 11

And the exchange rate of the ruble - as in Gaidai's film - 1 to 70 - for one ruble 70 dollars.
Vladimir Orlov

0

25 March 2022 13: 46

The transition to rubles actually nullifies their sanctions, so they are unlikely to go for it. Or they will play for time and simultaneously add other banks to the sanctions list, etc.
If our authorities are principled, after some time they will switch to the ruble.
1. Cherry
  
  0
  
  26 March 2022 19: 55
  
  Or they will play for time and simultaneously add other banks to the sanctions list, etc.
  
  They will simply transfer the usual currency to blocked accounts - you can transfer funds to them, but withdraw funds from them .... no. They convince me on all forums that this is not so, but when our company's account was blocked due to debt for VAT, then all incoming funds were immediately debited by the bank to pay off the payment requirement of the tax service, i.e. funds can be received. I don’t think that this situation is very different
  1. Vladimir Orlov
    
    0
    
    April 1 2022 01: 18
    
    Well, here, in fact, is the answer: Europe also pays in euros, but an "authorized bank" (Gazprombank) appears, which converts the currency into rubles on the Moscow Exchange. https://www.rbc.ru/business/31/03/2022/6245b6c39a7947e7182a7ff2
    Contracts, as they were in euros, have remained in euros.
    
    What has changed:
    
    from the end of February, all our exporters had to sell 80% of their foreign exchange earnings (the rest they could send to their offshore companies, for example). Now all 100% of the proceeds are being sold (only not by Gazprom, but by Gazprom's bank). Those. in fact, the window for the legal withdrawal of capital is closing. An additional positive effect on the ruble exchange rate, although small (compared to the already imputed sale of 80% of revenue)
    
    reducing the risks of "theft" of Gazprom's foreign exchange earnings. In fact, two accounts - currency and ruble for a transaction are opened in advance - this is according to the execution mechanism, widely used by the so-called. renewable letter of credit (now payment in foreign currency - AFTER deliveries for a month, they can get gas, but not pay - if they "burn bridges"). BUT: despite the exchange of currency on the Russian exchange by a Russian bank, if the EU forbids changing through Gazprom (or at all), European importers will not be able to disobey (i.e. gas trading will stop)
    
    the main bonus is from the field of psychology: a warning that "we can block it, and very quickly" (or "think before you impose the next sanctions"), as well as an invitation to other countries to join the ruble zone (after stabilization) or, at least, take into account the negative lesson of Russia (keep the exchange point, etc. above)
    
    In reality, this has little effect on the strengthening of the ruble, since:
    any export-import - accompanied by the exchange of two currencies, one way or another
    the volume of Russia's foreign trade -450 billion. dollars, all countries - 24,5 trillion. dollars. Those. our volume is a couple percent at best. Dollar so definitely "we will not bury"
    
    A positive effect on the exchange rate (and the possibility of more "printing rubles" for investment) could be if the ruble was a freely convertible reserve currency (like the dollar, or at least the euro - so that it would be used by other countries for trade, but not with Russia, but among themselves), i.e. by analogy with the "petrodollar" - "trade ruble / international ruble".
    But it is now even further than it was in the beginning.
    Yuan = China will benefit from these gestures.
gorenina91

-2

25 March 2022 14: 01

Such accommodatingness of Moldovan officials is explained by the fact that the agreements between the Russian Federation and Moldova on repayment of the debt for previously delivered gas have not yet been fulfilled by the Moldovan side. In particular, not so long ago, the Moldovan side announced the impossibility of conducting an audit on the terms of Gazprom, despite the fact that the audit was one of the key requirements for maintaining gas supplies to Moldovan consumers.

- It’s just that Moldova expects to get very smart preferences in paying its debts and get an increase in the supply of its products (wine, fruits, canned food, etc.)
1. gorenina91
  
  -1
  
  25 March 2022 14: 18
  
  Another country consuming Russian gas that agreed with the transition from the dollar to the ruble was Bulgaria.
  
  - Almost Bulgaria has all the same "motives" as Moldova. - Bulgaria has no - no rubles, no dollars - so she has absolutely nothing to lose. - Bulgaria is also a member of NATO and a very devoted vassal of the United States - so it also seeks to enlist the favor of Russia (a kind of "servant of two masters") - so it expects, taking advantage of the situation - and "from those and from these" to benefit to the maximum.
  - Well, in "business terms" - that Moldova, that Bulgaria - are the most unreliable, the most problematic and the most corrupt "partners".
Awaz

-1

25 March 2022 18: 06

Well, Moldova is not an indicator. She is all in debt and trying to somehow please and bend over .. Yes, and they really won’t pay anything ..
power day

0

25 March 2022 18: 56

Quote: Igor Viktorovich Berdin
Nobody is going anywhere. Russia has very strong gas positions. Almost everyone will agree and move on. And when the payment options are worked out, then the rest of the trade will switch to rubles.

Do you guarantee?