Thursday, September 7, 2023
ac.news

ALTERNATIVE CENTRAL NEWS
UNCENSORED AND INDEPENDENT MEDIA
SEEKING THE TRUTH, FIGHTING FOR FREEDOM

  • Main
Menu
donation
No Result
View All Result
ac.news
No Result
View All Result

Via Clever Tactics, Putin Gets His Way on Rubles for Energy Demand

04/02/2022
in Economy-Business-Fin/Invest, Main, Politics-Geopolitics-Gov.-Events
Text Size: A A A
0
Via Clever Tactics, Putin Gets His Way on Rubles for Energy Demand

Understanding Putin’s Clever Tactic

Russian president Vladimir Putin demanded rubles for energy. His concern was that new EU sanctions that would freeze euro-denominated accounts of Russian energy suppliers.

One of Putin’s fear stems from the fact that payments for gas shipped in April get paid later in the month or in May, depending on the contract. A second fear is European sanctions on Gazprombank.

The EU said no to his demand. Yet, the gas will still flow. This prompted misguided reports that “Putin backed down.”

What’s Really Happening?

  • German Chancellor Olaf Scholz agreed to Vladimir Putin’s clever way around the problem of rubles payments.
  • The EU will pay in euros and via a separate account at Gasprom, the euros are immediately converted to rubles.

Putin Says Russia to Keep Supplying Gas Amid Shift to Rubles

Please consider Putin Says Russia to Keep Supplying Gas Amid Shift to Rubles

When Putin first announced the ruble-payment demand last week, European officials rejected it, saying the move would violate contract terms. But the Kremlin Thursday published a presidential decree outlining the mechanism to allow foreign buyers to convert their dollars and euros into the Russian currency through a state-controlled bank.

The Kremlin decree mandates that deliveries starting from April 1 be paid for in rubles. Foreign buyers need to open special ruble and foreign currency accounts at Gazprombank to handle payment, which can be done remotely. Buyers transfer foreign currency to pay for the gas into their accounts, Gazprombank converts the funds to rubles on the Moscow Exchange and transfers rubles into the buyer’s ruble account for payment on to Gazprom. The payment is considered complete when the rubles reach Gazprom’s account.

Putin said the goal of the new mechanism was to prevent western governments from attempting to seize the payments in foreign currency or the accounts through which they went.

“If gas is supplied and paid for under the traditional scheme, new dollar and euro payments can be frozen,” he said.

“I think ultimately Russia wanted to send a message that as long as its gas is being paid for in time and in full (irrespectively of which currency is used), the gas will continue to flow,” said Katja Yafimava, ​Senior Research Fellow at the Oxford Institute for Energy Studies. “If Europe were to lose supplies of Russian gas it would be not because of Russia cutting them off but because of Europe not paying for them.”

Another motivation may have been to protect Gazprombank, one of the few major Russian banks that’s so far avoided the most severe western sanctions, from future restrictions, she said.

Avoiding Sanctions

This workaround highlights the silliness of the debate that one needs dollars to buy oil or gas despite dollars being the pricing unit.

In this case, Russia demands rubles and get them via immediate conversion from euros or in some cases US dollars, depending on the contract.

Given that currencies are fungible (sanctions aside), it does not matter what the pricing or payment unit is.

This entire process is about avoiding sanctions and getting paid.

The EU could default one time given the payment lag, but then would be cutoff from oil and gas.

So despite reports to the contrary, this workaround that Scholz agreed to effectively satisfies Putin’s requirements: Russia gets paid and Gazprom is protected from sanctions.

Ruble Impact is Minimal

The impact on the ruble is limited because Russian corporations are already required to sell 80% of their foreign-exchange earnings for rubles under the capital controls imposed by Western nations after Russia invaded Ukraine.

Scroll to Continue

This new maneuver means energy suppliers will have to sell 100% of euros and dollars to the Russian central bank for rubles.

European sanctions have so many holes they are mostly useless in practice. Thus, talk of reducing the EU’s dependence on Russia is all hype and no reality.

Understanding What Happened

  • The Russia Central Bank gets euros. Exactly as before. The entire thing is essentially a mirage. It really makes no fundamental difference if the euro for ruble switch happens by Germany, somewhere in the middle, or at the back end by the Russia central bank.
  • Whether by the EU, some middleman, or later on the back end by Russia, the Russia central bank gets euros. Gazprombank gets rubles from the Russian central bank in exchange for euros.
  • Aside from sanctions, currencies are fungible. This is always the case and a point most simply fail to understand in all this oil priced in something other than dollars nonsense. Hopefully now people can see it.
  • One slight difference is the Russia central bank gets 100% of the euros instead of 80% of them. This benefits Putin but he could always demanded that. It now happens immediately instead of perhaps later.
  • However, Putin extracted a mechanism and thus an implied promise from Scholz to not sanction Gazprombank. And he gets bragging rights that Scholz agreed to a maneuver that gets rubles to Gazprombank.
  • The threat is if the EU sanctions Gazprombank, then Putin shuts down the gas. Yet, this was really the case all along. So actually, other than getting an agreement from Scholz, there is no difference. But with Gazprombank now on the cannot sanction list, Putin can likely play some games there with euros even though they are technically central bank euros.
  • Putin can trade those euros to China for sanctioned US parts through Gazprombank.
  • Bottom line is there is no real change technically. But Putin gets to brag he honors his contracts and he has a commitment from Scholz for the EU to do the same.
  • It also makes it harder for Biden to pressure the EU to sanction Gazprombank or Gazprom.
  • This is a victory for Putin.

Sanctions Don’t Work

Here’s a twelve-word synopsis of the above post Misguided Souls Still Do Not Understand This Simple Truth: Sanctions Don’t Work

The last three of those twelve words emphasize the key point.

Meanwhile, Biden Doing Everything Possible to Drive Up the Price of Oil, Some of It’s Illegal

Finally, US Sanction Policy Drives China Into Russia’s Loving Arms.

The Ruble Regains 100% of Its Loss After Russia Invaded Ukraine, Why?

For more discussion of energy for rubles and the currency itself, please see The Ruble Regains 100% of Its Loss After Russia Invaded Ukraine, Why?

Addendum

Eurointelligence podcast Swapping Rubles agrees with my assessment. Their paywall title is “Paying in Rubles After All.”

This post originated at MishTalk.Com.

Thanks for Tuning In!

Please Subscribe to MishTalk Email Alerts.

Subscribers get an email alert of each post as they happen. Read the ones you like and you can unsubscribe at any time.

If you have subscribed and do not get email alerts, please check your spam folder.

Mish

donate

Join: 👉  https://t.me/acnewspatriots

The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of AC.NEWS

Disclaimer: This article may contain statements that reflect the opinion of the author. The contents of this article are of sole responsibility of the author(s). AC.News will not be responsible for any inaccurate or incorrect statement in this article www.ac.news websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner. Reprinting this article: Non-commercial use OK. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.

Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.

Via: https://mishtalk.com/economics/via-clever-tactics-putin-gets-his-way-on-rubles-for-energy-demand
Next Post
Documentary Blows the Lid off the $400 Million Zuckerberg Effort to Elect Biden

Documentary Blows the Lid off the $400 Million Zuckerberg Effort to Elect Biden

Comments and discussions are also open in our Telegram @acnewspatriots where all articles are automatically displayed

Discussion about this post

donate

Latest Videos

#365: The Climate Change Terrorists | David Icke (VIDEO 6 min)

#365: The Climate Change Terrorists | David Icke (VIDEO 6 min)

09/05/2023
The ‘Woke’ Clowns Of The Week – David Icke (VIDEO 18 min)

The ‘Woke’ Clowns Of The Week – David Icke (VIDEO 18 min)

09/05/2023
Gabon just SHOCKED the world with a coup, Africa breaking from Western rule (VIDEO 15 min)

Gabon just SHOCKED the world with a coup, Africa breaking from Western rule (VIDEO 15 min)

09/02/2023
Former Ukraine prosecutor makes explosive claims against Joe and Hunter Biden in new interview

Former Ukraine prosecutor makes explosive claims against Joe and Hunter Biden in new interview

08/29/2023
Jeffrey Sachs Interview – A Large-scale Destruction is Currently Unfolding – EU is US slave

Jeffrey Sachs Interview – A Large-scale Destruction is Currently Unfolding – EU is US slave

08/27/2023
Nightmare Videos Prove Maui Police Barricaded Families Inside Firestorm VIDEO 45 min)

Nightmare Videos Prove Maui Police Barricaded Families Inside Firestorm VIDEO 45 min)

08/27/2023
Plandemic script revealed, re-education camps for those who #DoNotComply (explicit) (VIDEO 129 min)

Plandemic script revealed, re-education camps for those who #DoNotComply (explicit) (VIDEO 129 min)

08/26/2023
EXCLUSIVE: Biden Planning New COVID Restrictions/Lockdowns, Will You Submit? (VIDEO 33 min)

EXCLUSIVE: Biden Planning New COVID Restrictions/Lockdowns, Will You Submit? (VIDEO 33 min)

08/22/2023
IS A DEADLIER PANDEMIC ON THE HORIZON? (VIDEO 36 min)

IS A DEADLIER PANDEMIC ON THE HORIZON? (VIDEO 36 min)

08/22/2023
WATCH: Hawaii Democrat tries to get Biden to drink water in awkward moment

WATCH: Hawaii Democrat tries to get Biden to drink water in awkward moment

08/22/2023
THE DEEP STATE IN FULL PANIC MODE OVER WHAT MIKE LINDELL REVEALED AT THE ELECTION CRIME SUMMIT (VIDEO 59 min)

THE DEEP STATE IN FULL PANIC MODE OVER WHAT MIKE LINDELL REVEALED AT THE ELECTION CRIME SUMMIT (VIDEO 59 min)

08/21/2023
Custer’s Last Stand: The Battle Of Little Bighorn (VIDEO 51 min)

Custer’s Last Stand: The Battle Of Little Bighorn (VIDEO 51 min)

08/21/2023
Right – This Is The Plan – We Save The Planet By Destroying It – David Icke (VIDEO 32 min)

Right – This Is The Plan – We Save The Planet By Destroying It – David Icke (VIDEO 32 min)

08/18/2023
“The Country Is Going To Learn That A Recession Is Worse For Votes Than High Inflation”

GLOBAL ECONOMIC RESET! – As Collapse Nears, There Are Ways To Save Yourself Now! – Gold To SKYROCKET (VIDEO 14 min)

08/17/2023
CDC to start pushing ANNUAL mRNA COVID “vaccine” injections to accelerate depopulation

SHOCKING NEW VAX DATA! – CDC Data Shows Over 118,000 Children Died Suddenly After Injections! (VIDEO 28 min)

08/17/2023
United States to Ban Real Meat

Brighteon Broadcast News – mRNA vaccines in ORGANIC meat; Biden builds CITIES for ILLEGALS (VIDEO 127 min)

08/17/2023
HUGE! Michael Burry Just Bet $1.6B AGAINST Stock Market… Here’s What it Means (VIDEO 45 min)

HUGE! Michael Burry Just Bet $1.6B AGAINST Stock Market… Here’s What it Means (VIDEO 45 min)

08/16/2023
Maui Wildfires and the Theft of Sacred Hawaiian Land (VIDEO 6 min)

Maui Wildfires and the Theft of Sacred Hawaiian Land (VIDEO 6 min)

08/16/2023
INSANE! FULL BAN ON MEAT & CARS! – Globalists Plot A Complete COLLAPSE Of Food Supply! (VIDEO 20 min)

INSANE! FULL BAN ON MEAT & CARS! – Globalists Plot A Complete COLLAPSE Of Food Supply! (VIDEO 20 min)

08/15/2023
Episode 96: W.H.O are the Bastards Killing Us with James Roguski (VIDEO 67 min)

Episode 96: W.H.O are the Bastards Killing Us with James Roguski (VIDEO 67 min)

08/14/2023
Load More

Top Stories

VERY URGENT: The mRNA Covid jabs damage immune responses to other viruses in children, a new study finds

VERY URGENT: The mRNA Covid jabs damage immune responses to other viruses in children, a new study finds

09/02/2023
Disease X: The Scientific Absurdity Underpinning an ‘All-in-one Vaccine’

Disease X: The Scientific Absurdity Underpinning an ‘All-in-one Vaccine’

09/02/2023
SILENCE! EU’s censorship law is now legally enforceable across social media platforms and search engines

SILENCE! EU’s censorship law is now legally enforceable across social media platforms and search engines

09/02/2023
Explosive Tucker Carlson Interview with Adam Carolla on Obama Gay Sex and Smoking Crack, Rising Risk of Trump Assassination and War with Russia Next Year(Video)

Explosive Tucker Carlson Interview with Adam Carolla on Obama Gay Sex and Smoking Crack, Rising Risk of Trump Assassination and War with Russia Next Year(Video)

09/02/2023
Brutal EU Censorship Regime Takes Hold, ‘Free Speech’ Advocate Elon Musk Folds, YouTube Adopts WHO ‘Misinformation’ Policy

Brutal EU Censorship Regime Takes Hold, ‘Free Speech’ Advocate Elon Musk Folds, YouTube Adopts WHO ‘Misinformation’ Policy

08/31/2023
ARSON is the new CLIMATE CHANGE: 79 people arrested for starting wildfires in Greece

ARSON is the new CLIMATE CHANGE: 79 people arrested for starting wildfires in Greece

08/31/2023
Watch: Protests Erupt in London as Mayor Sadiq Khan Expands Carbon Tax Green Zone

Watch: Protests Erupt in London as Mayor Sadiq Khan Expands Carbon Tax Green Zone

08/30/2023
US warns Russia about questioning diplomats

US warns Russia about questioning diplomats

08/30/2023
5,000 pilots suspected of hiding major health issues. Most are still flying.

5,000 pilots suspected of hiding major health issues. Most are still flying.

08/29/2023
The Federal Reserve Cartel: The Eight Families

The Federal Reserve Cartel: The Eight Families

08/29/2023
After using COVID-19 victims to promote medical tyranny, the mainstream media callously disregards the vaccine injured

After using COVID-19 victims to promote medical tyranny, the mainstream media callously disregards the vaccine injured

08/29/2023
BLOOD CLOTS – in the legs, lungs and hearts of young people (COVID-19 vaccinated) – Grammy winner Tori Kelly, NFL Cleveland Browns Marquise Goodwin – 25 new cases examined – it’s an epidemic!

BLOOD CLOTS – in the legs, lungs and hearts of young people (COVID-19 vaccinated) – Grammy winner Tori Kelly, NFL Cleveland Browns Marquise Goodwin – 25 new cases examined – it’s an epidemic!

08/29/2023
Germany Caught Funnelling Billions to Bill Gates To Depopulate Country of ‘Undesirable Citizens’

Germany Caught Funnelling Billions to Bill Gates To Depopulate Country of ‘Undesirable Citizens’

08/24/2023
The ‘Ukraine Failure’ Script Is Already Being Written & Only One Man Will Be Blamed

The ‘Ukraine Failure’ Script Is Already Being Written & Only One Man Will Be Blamed

08/24/2023
Cell Phones and The Deadly Risks of Microwave Radiation. “The Zapping of America”. Remembering Paul Brodeur

Cell Phones and The Deadly Risks of Microwave Radiation. “The Zapping of America”. Remembering Paul Brodeur

08/24/2023
Russia, Donbass and the Reality of Conflict in Ukraine

Russia, Donbass and the Reality of Conflict in Ukraine

08/24/2023
WATCH LIVE HERE: Tucker Carlson’s Interview with President Trump at 8:55 PM ET – Tucker Drops EPIC Teaser Video

WATCH LIVE HERE: Tucker Carlson’s Interview with President Trump at 8:55 PM ET – Tucker Drops EPIC Teaser Video

08/24/2023
Failing Upwards: Bank Boss Ousted Over Farage Debanking Scandal Gets £2.4m Payout

Failing Upwards: Bank Boss Ousted Over Farage Debanking Scandal Gets £2.4m Payout

08/24/2023
There is a global pushback against CBDCs; we CAN stop them

There is a global pushback against CBDCs; we CAN stop them

08/23/2023
Bill Gates Demands Everyone ‘Prove Their Identity’ with Global Digital ID System

Bill Gates Demands Everyone ‘Prove Their Identity’ with Global Digital ID System

08/23/2023

Archives

<
September 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
▼
>
MonTueWedThuFriSatSun
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
     12
3456789
10111213141516
17181920212223
24252627282930
       
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
  12345
6789101112
13141516171819
20212223242526
2728     
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
   1234
567891011
12131415161718
19202122232425
2627282930  
       
1234567
891011121314
15161718192021
22232425262728
293031    
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
 123456
78910111213
14151617181920
21222324252627
28      
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      

Contact Us

    © AC.news  | Notice On Rasism | Privacy Policy | Terms and Conditions

    No Result
    View All Result
    • Main
    • Politics-Geopolitics-Gov.-Events
    • Crime-Justice-Terrorism-Corruption
    • Economy-Business-Fin/Invest
    • Army-Wars-Conflict Zones-Military Tech.
    • NWO-Deep State-Dictatorship-Tyrrany
    • Propaganda-Ideology-Disinfo
    • Control-Surveillance-Privacy-Censorship
    • Freedom-Free speech-Resitance & H-rights
    • Big Pharma Terror-Pandemic-Lockdowns
    • ECO-Climate-Environment
    • Power & Industry
    • Agriculture-Food Crisis
    • Racism-Trans/Gender-LGBTQ+-Sex. crimes
    • Science-Tech-AI-Medical & Gen. Research
    • Disasters-Crisis-Depopulation-Genocide
    • Survival-Prepping-Security  
    • Opinion-Comments
    • Society-Family-Education
    • Media-Soc. media-Internet
    • Home-Property-Garden
    • Immigration & Multi-culti
    • Cosmos research-UFOs & E.T.s
    • Nature-Wildlife-Travel
    • People-Life-Leisure-Curiosities
    • History-Archaeology-Past Mysteries
    • Art-Culture-Literature-Film-Music
    • Health-Wellness-Healing-Nutrition & Fitness
    • Religion-Mysticism-Occult & Phenomena
    • Psychology-Spirituality-Consciousness
    • VIDEOS

    © 2022 AC.news

    Dear reader, we need your help and support today!

    Your donation is important and highly valuable!

    DONATE

    Thank you!