Gas in rubles.. Putin’s plan puts Europe in trouble

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And he said Putin It is starting from April 1st: “The supply of . will be stopped Russian gas To countries that will not pay in rubles,” he said, adding that Russia “does not intend to sell gas for free.”

He continued, “The countries importing Russian gas should open accounts in rubles to pay for the gas.”

Commenting on the Russian decision, and what will result from it, Soraya Al-Farra, a professor of political science at Moscow University, said in an interview with Sky News Arabia: “There is no doubt that the decision to stop payments in dollars and euros as a price for Russian natural gas, means that countries that are not friendly to Russia, will have to pay In rubles, this comes as a direct response to the freezing of Russian assets in the West, and the goal is, of course, to support the Russian currency, which experts see as a smart step to cancel the effectiveness of the sanctions imposed on the country.

Those countries will have to buy the ruble from Russian Central Bankas the researcher and academic explains, adding: “Putin is working to end the financial embargo and secure the stability of the ruble exchange rate in the currency markets, as the bank cannot sell it as long as the Russian accounts are frozen, and on the other hand, he seeks to sell the ruble to the West, making it a global currency just like currencies. Western Europe, such as the euro, dollar, and pound sterling.

This decision will also push towards achieving a rapid increase in gas prices globally and even in the future, which will provide huge financial revenues to the Russian treasury, as Al-Farra explains, adding: “Especially since Europe will not be able to find an alternative to Russia in this context, despite Washington’s vain attempts to solve the problem.” substitute as much as possible.

And the political science professor adds: “After Putin’s announcement, we saw clear stability in the Russian stock exchange and the ruble price, unlike the first days of the war, when it recorded a massive decline against the US dollar, and thus the West must now secure large sums of rubles to pay natural gas bills, including It makes it a global currency, and in this way the Russian decision-maker was able to strengthen Russian economic policies and make the ruble a difficult global currency.”

And Al-Farra continues: “In addition to what the Russian Foreign Minister, Sergey Lavrov, said from the Chinese capital, Beijing, on Thursday, when he indicated that work is underway to create a new global financial system, and this is a very important sign that the US dollar will no longer remain a sword. It is in the hands of Washington to blackmail the countries of the world and achieve its agendas, according to Lavrov.”

As for Lana Badfan, a researcher in international and European relations at the Higher School of Economics in Moscow, she says in an interview with Sky News Arabia: “After the issuance of Putin’s decision, Russian oil, gas and coal will be sold with daily payments of billions of rubles, meaning that every ten dollars rise in the price of a barrel of oil, for example. It gives Russia about $20 billion in the annual current account, especially in light of the successive rises in energy prices.”

Thus, the main objective of this Russian decision, as the Russian economic researcher explains: “is that whenever a Western country buys a barrel of Russian oil or gas, it must support the Russian national currency.

Thus, the options for Europe, especially its countries that rely heavily on Russian gas, are either to agree to this Russian decision and buy in rubles or in the gold-bitcoin currency, as Moscow proposed to it, or to retreat from its alliance with Washington in imposing sanctions on Moscow “.

“European countries cannot dispense with Russian energy supplies, especially gaseous ones, on which Eastern European countries depend on by 90 percent, while Western Europe, such as Germany and France, for example, depend on Russian gas by up to 60 percent,” she concluded.

European countries had expressed their rejection of the Russian president’s decision to sell gas in exchange for the Russian currency, stressing that it violates the contracts signed between the two parties.







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