(Bloomberg) -- Russia will cut off the gas to Poland and Bulgaria on Wednesday in a major escalation in the standoff between Moscow and Europe over energy supplies and the war in Ukraine.Most Read from BloombergElon Musk Lands Deal to Take Twitter Private for $44 BillionRussia Warns of Nuclear War Risk as Ukraine Talks Go OnUkraine Latest: Lavrov Warns of Nuclear War; Biden Names EnvoyRussia to Cut Gas to Poland and Bulgaria in Major EscalationU.S. Stocks Sink to 6-Week Low Before Key Earnings:
Do they have the rubles needed to pay? Part of the difficulty of de dollarization is having enough of other currencies or bundles of currencies so it may be difficult for these countries to comply to the new stipulations.
They dont actually have to pay in rubles. What they have to do is open a bank account in the russian bank Gazprombank and deposit the payment in Euros there. Gazprombank then sells the Euros on the Moscow Stock Exchange for rubles, which are then sent to Gazprom (the russian state owned gas company). So while they are de facto paying in rubles they dont need to actually have them, euros are fine. Poland did this because the US ordered them to. I think they wanted to test Russias limits, see what they would do if they refused to pay. Now millions will suffer because of this. Truly despicable.
Oh word thanks for explaining. So there is little excuse.
This situation is such a shitshow. Now Germany is sending tanks and anti air armor? There is no telling how these weapons will be used over the next decade. This conflict will spread and before we know it all of the people concern trolling about Russia trying to start a nuclear war will be calling for WMDs to be brought to the battlefield. I hope the anti imperialist bloc is prepared for the coming years.
Do they have the rubles needed to pay? Part of the difficulty of de dollarization is having enough of other currencies or bundles of currencies so it may be difficult for these countries to comply to the new stipulations.
They dont actually have to pay in rubles. What they have to do is open a bank account in the russian bank Gazprombank and deposit the payment in Euros there. Gazprombank then sells the Euros on the Moscow Stock Exchange for rubles, which are then sent to Gazprom (the russian state owned gas company). So while they are de facto paying in rubles they dont need to actually have them, euros are fine. Poland did this because the US ordered them to. I think they wanted to test Russias limits, see what they would do if they refused to pay. Now millions will suffer because of this. Truly despicable.
Oh word thanks for explaining. So there is little excuse.
This situation is such a shitshow. Now Germany is sending tanks and anti air armor? There is no telling how these weapons will be used over the next decade. This conflict will spread and before we know it all of the people concern trolling about Russia trying to start a nuclear war will be calling for WMDs to be brought to the battlefield. I hope the anti imperialist bloc is prepared for the coming years.