The Washington Post: Putin does not need rubles, he wants obedience from Europeans

European energy companies seem to have accepted the terms of Russian President Vladimir Putin to pay for natural gas using a complex two-tier settlement system. This concession by the West is intended to eliminate the risk of cutting off supplies of an important energy carrier before alternative fuel sources are provided. For the Kremlin, on the contrary, such a victory is an occasion to strengthen the support in society. This conclusion was reached by columnists Chico Harlan and Stefano Pitrelli in an article for The Washington Post.

The two-account system at Gazprombank allows Europe to say that technically it pays for natural gas in euros, while Russia can claim to be paid in rubles, a requirement Putin has imposed on unfriendly countries. And now, with each weekly payment in the national currency, the ruble is getting stronger. But, as the authors write, this does not really play into the hands the economy Russian Federation, because the growing foreign purchasing power of Russians is offset by isolation from the world.

Some economists and energy experts suspect that Putin's insistence on using the ruble may be more about getting European countries to oppose each other on his orders than to strengthen the national currency.

European Union countries are sickened by the idea that they might violate their own sanctions on Russia, and questions about this payment arrangement have been a test of European unity, leading to weeks of chaos and conflicting directives from Brussels. It has also led EU countries to talk about how badly they still need Russian raw materials, even as an embargo on both Russian oil and gas supply diversification is being discussed.

However, the majority of European countries apparently chose the path of compromise, changing the rhetoric of blackmail and reconciling themselves with an agreement based on purely technical details. However, there is a suspicion, experts believe, that Putin does not need rubles, but the humble obedience of unfriendly countries.

For example, Roberto Perotti, an economist at Bocconi University in Milan, is convinced that forcing European companies to open ruble accounts seems to have only "political value”, and Putin proves that he can dictate terms to almost all EU states. According to the expert, the Russian Federation could get a similar result if it accepted the euro and converted them on the exchange market. But such a deal would not attract the attention of the Russian public. So in the end, the scheme was introduced, which has now become the subject of controversy and discussion.
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  1. Kofesan Offline Kofesan
    Kofesan (Valery) 25 May 2022 09: 50
    The newspaper began to guess something ... They almost hit, but still missed. By, because it's calmer. For them! For Fashington eggheads.

    You don’t have to be seven spans in your forehead to not understand: Russia doesn’t need either dollars or euros. From the word at all. You can't buy anything for them. Not a factory. No bah. Hamburgers don't count. Movement, continuation of trading is more important than the result. I'll try to explain..:

    So what does Russia need?
    And we need ... - Complete subordination of the Eurozone, from the word "ZONE", to the will of Russia. At the level of servility. It will be said to the Fritz: "There and there you are obliged to build 10 factories. In Russia. You Fritz will produce all your geldings and wagons there. Only there. Sell as much in Russia - as we say, the rest, so be it - on export ... And the French will build the Moulin Rouge under the town of N. And the old one, in Paris, will be closed with a huge barn castle. Who wants to stare, let it blow on the plane. By the way, Jean-Poli will also produce planes, for themselves including, near Samara ... ".

    That is why it is not so important how much gas is now in Europe. It's not about them, straw, Eureka. And even more so not in their k-ve ...
  2. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 25 May 2022 10: 47
    Yes, economists have long explained this PR scheme.
    Europe pays in euros, and the victory is announced in rubles. All is well.
  3. Bulanov Online Bulanov
    Bulanov (Vladimir) 25 May 2022 11: 00
    According to the expert, the Russian Federation could get a similar result if it accepted the euro and converted them on the exchange market.

    On the English or American exchange market, where Russia is not allowed to enter? No, it's safer in rubles. That's just the western tugriks should not be collected in a capsule, but to purchase machine tools and equipment on them. You can have equipment that Russia cannot yet produce itself.
  4. svetlanavradiy Offline svetlanavradiy
    svetlanavradiy (Svetlana Vradiy) 25 May 2022 11: 55
    The Americans are lying. It is they who demand obedience from all, and the disobedient are whipped with sanctions. Russia is for mutually beneficial cooperation with all countries.
  5. Offline (Irina Gorskova) 25 May 2022 17: 40
    The Washington Post puts its own on others. But this is normal for them. They don't know how to think. They are simply unable to imagine other thoughts and dignity. Well, they do not have such criteria as HONOR. dignity, self-respect, independence .... I now remember their militants. And what to say? In the same place, in all structures, there is betrayal, under the line ... Until there is ONE (only one) honest type of "hard nut" who defeats everyone But this is Hollywood.