Slovakia gave out a "secret" why more and more countries agree to the Russian gas payment scheme

14 May 2022 14

The situation with gas in Europe during the crisis always keeps the government and people in suspense. Playing the Energy Security Card Pays Dividends politicianswho are trying to be proactive and explain to the people who and what has done in this area. This is exactly the trap that the Slovak government fell into when it released an internal document it received from Russia that should not have been made public because it further substantiates a misunderstanding of the process of paying in rubles for consumed gas.

However, this happened when Karol Galek, State Secretary of the Ministry of Economy of the Republic, cited the text of the letter and concluded that Russia allegedly agreed to supply gas to Slovakia, even if payment was not made in rubles, but only in euros, as before. The official refers just to the document from Moscow sent the day before.

The letter says that even if Gazprombank is unable to carry out a settlement operation to convert euros into rubles, the gas flow will continue to flow, since the payment will be considered the transfer of the due amount into euros. Thus, the provisions of the contract remain unchanged.

– stated in the message Galek.

The original text of the letter is not given, only in the interpretation of the Slovak official. Thus, the old payment scheme is allegedly returning, with the abolition of ruble transactions, the “care” of which falls entirely on the Russian side and the bank. It turns out that Slovakia seems to have given away some semblance of a secret why, after the first weeks of distrust and denial, fear of the European Commission, consumers of domestic gas from the EU suddenly decided en masse to switch to the payment scheme proposed by Russia, with all the additions and changes to this procedure as of May.

The thing is that such explanatory letters were most likely received by many customers working with Russian gas, and found the conditions acceptable. But only Slovakia made a purely corporate appeal public, trying to calm the citizens of the republic, who are concerned about the future heating season and fuel supply, and without fear of falling under accusations of circumventing sanctions. As a result, things only got worse, since the meaning of the two-tier payment scheme through a Gazprombank account was greatly distorted.

Even amid reports of the imminent arrival of LNG cargo in Slovakia, the market was only calmed down news about continuing cooperation with Russia, which, according to various sources, provides up to 85% of the internal needs of the republic.

Nikolay Gritsay

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Sergey Latyshev

-6

14 May 2022 09: 58

This open secret has been known on the Internet for more than a month, ha ha.

In fact, a jumper appeared in the form of a G-bank, which converts the currency into rubles ... The rest is PR.
1. Omas Bioladen
  
  0
  
  14 May 2022 11: 29
  
  Diese Bank stößt die Auslandsdevisen aber sofort wieder ab. Es ist also eine Dienstleistung Rußlands, die Gaskäufe erleichtet und dadurch den Rubelkurs stützt. Dies auch nur weil die laufenden Verträge ungünstig geschrieben sind. Bei neuen Verträgen wird die Bazahlung in Rubel verlangt und diese DIensteistung entfällt. Es ist also nur eine Übergangslösung, die nicht viel schlechter ist.
  1. Sergey Latyshev
    
    -4
    
    14 May 2022 15: 01
    
    I don't know what's in the future, because. it is necessary to look at specialized sites.
    
    In the meantime, so, Gazprombank is an intermediary.
    
    And how to voice the price - before the bank - in rubles, or after the bank - in euros - it’s already clear how to submit ....
2. Adler77
  
  0
  
  15 May 2022 11: 18
  
  The question is where do these funds go. Previously, they remained on accounts in euro-type banks. And now? And in general, how it all works is not clear.
  Chet as always...
  1. Bulanov
    
    0
    
    18 May 2022 13: 25
    
    The EU may well refuse to transfer this money to Russia. So Russia should immediately use the newly received money for gas and purchase other goods from all over the world, or at least gold.
rotkiv04

-2

14 May 2022 23: 20

Yes, in general, with the scheme, everything was done according to Putin, for half a bump, it seems that they were forced to open a ruble account, but it is the Russian side that converts, which means nothing has changed. Putin is only capable of arranging PR actions and hosting parades, well, maybe 11 more goals to score former Nkhlovites which in itself is very funny.
Roma Phil

+1

15 May 2022 00: 26

The price of gas is determined by the formulas established in the contracts, linked to the cost of gas at European hubs. And this price is determined in euros converted into dollars at the exchange rate at the time of the transaction
True, the price on futures does not affect the execution of current long-term contracts.
In any case, this is what I understood from numerous explanations on various sites. So here is His Majesty the dollar.
As for payment in rubles:
First, send dollars and euros to their new settlement accounts opened with Gazprombank.
After that, the bank itself will convert their currency into rubles on the Moscow Exchange.
The bank will then send the resulting amount to the same company account.
The company will pay for the gas with these rubles.
And now it turns out (as analysts say) that the price of gas directly linked to the ruble exchange rate will help at least partially stabilize the value of the ruble and prevent its sharp collapses, and will also be able to protect some Russian banks from sanctions.
1. Pat Rick
  
  +3
  
  15 May 2022 07: 43
  
  First, send dollars and euros to their new settlement accounts opened with Gazprombank.
  After that, the bank itself will convert their currency into rubles on the Moscow Exchange.
  The bank will then send the resulting amount to the same company account.
  The company will pay for the gas with these rubles.
  
  I think that no one sends the dollar anywhere: the United States does not buy gas from Russia.
  And in general, all these currencies in the calculations exist only virtually (in digital format) - no one sends bags of euros and wagons of rubles to anyone.
  1. Roma Phil
    
    +1
    
    15 May 2022 12: 57
    
    That's right. The US printing press simply can't keep up with this huge mass of crisp new green papers. These pieces of paper all over the world do not even know the exact number. According to some sources, there are about 4,5 trillion dollars, according to others, more than 5 trillion. This is cash, the money supply in the form of banknotes is indicated by letters MO.
    But there is another unit M1 - this is cash + dollars stored on accounts and plastic cards - there are about 6,5 trillion of them.
    But there is another indicator M2 - this is cash + dollars on accounts + dollars on cards and + dollars in securities (bonds, loans, various funds)
    And here, if you are interested in this, you will find completely different numbers from 20 trillion dollars to 75 trillion.
    For example, Yandex to the question "how many dollars in the world" will give you a result of 75 trillion, while other sites on the economic topic give out (the smallest) just over 19 trillion. But I think that this figure is greatly underestimated, given that the US National Debt - borrowing for the country's federal budget, today is approaching 30 trillion dollars.
2. Adler77
  
  0
  
  15 May 2022 11: 21
  
  Thanks for the clarifications. I couldn't understand how the process was going on.
FGJCNJK

0

15 May 2022 06: 02

Quote from Omas Bioladen
Diese Bank stößt die Auslandsdevisen aber sofort wieder ab. Es ist also eine Dienstleistung Rußlands, die Gaskäufe erleichtet und dadurch den Rubelkurs stützt. Dies auch nur weil die laufenden Verträge ungünstig geschrieben sind. Bei neuen Verträgen wird die Bazahlung in Rubel verlangt und diese DIensteistung entfällt. Es ist also nur eine Übergangslösung, die nicht viel schlechter ist.

However, this bank immediately refuses foreign currency. Thus, it is a service provided by Russia that facilitates the purchase of gas and thus supports the exchange rate of the ruble. This is only because the current contracts are written unfavorably. In the case of new contracts, payment in rubles is required and this service is not applicable. So it's just a temporary solution that isn't much worse.
zenion

+2

15 May 2022 12: 59

So, for what radish, which is not sweeter, to start pretending that Stalin supplied Hitler with steel?
Krilion

0

16 May 2022 03: 34

as it was clear from the beginning, the principle of "gas for rubles" turned out to be nothing more than a fiction, a topic not brought to its logical conclusion, when, due to the current situation, all prices in contracts had to be forcibly rewritten by the Russian side into the ruble equivalent and the buyer first sells his currency on the stock exchange, where he buys these rubles and pays in rubles with the supplier .. in fact, everything remains as before .. but as a result, through the ass of the implemented payment idea, the Russian side simply began to receive fewer rubles due to the strengthening of the ruble ... according to this scheme, all the costs associated with depreciation of the euro, the seller of gas, not the buyer, bears it .. which was required to be proved .. all the steam of Putin's PR company again went into the whistle ..
VladimirNET

+1

16 May 2022 06: 58

Quote: Krilion
as it was clear from the beginning, the principle of "gas for rubles" turned out to be nothing more than a fiction, not brought to its logical conclusion

The main goal has been achieved - the impossibility of Europe getting our gas for free (which is what they wanted), in the event of blocking the euro (on Gazprom's accounts) after payment, because. they will not be able to block the received rubles.
Yes, while there is a loss on conversion - but it's better than losing 100% of the gas payment. Read - our economists (Khazin, Delyagin) - they explain EVERYTHING.

in view of the current situation, all prices in the contracts had to be forcibly rewritten by the Russian side into the ruble equivalent, and the buyer first sells his currency on the stock exchange, where he buys these rubles and pays in rubles with the supplier

I think this is the next stage, when the current agreements expire. While there is a restructuring of the "system" itself.