Italian Prime Minister Mario Draghi has been reassuring about the possibility of cutting off Russian gas flows to Europe, saying Moscow’s demand for ruble payments is not an obstacle. In particular, as reported by Reuters, speaking to reporters during his visit to the US, Mr. Draghi said that “in fact, most of the gas importers […]
Tag: ruble
At a high of two years the ruble strengthens
At about two years high, both against the dollar and the euro, the Russian ruble is strengthening today, backed by tight capital controls as the European Union proposes a new package of sanctions against Russia for its invasion of Ukraine. In particular, the ruble strengthened by 0.7% against the dollar with its exchange rate at […]
Payments in rubles: The creative ambiguity of Brussels and the difference of opinion
By Harry Floudopoulos Yesterday, the European Council of Energy Ministers failed to agree on a common line on the issue of the payment of Russian gas in rubles, a fact that highlights the internal disagreements that prevail within the EU. The commission, led by Energy Commissioner Simpson, has insisted that the payments in rubles and […]
Four European managers have already paid for the gas in rubles
Four European gas executives have already paid in rubles, Russia has demanded, according to a source close to Russian energy giant Gazprom, citing Bloomberg. According to the same person, who spoke to the agency on condition of anonymity, a total of ten European companies have already opened the relevant Gazprombank accounts in order to meet […]
Commission: Payments for Russian gas in rubles may be possible without violating sanctions
LAST UPDATE: 18:12 European Union companies may be able to comply with Russia’s proposed ruble gas payment system without violating the bloc’s sanctions against Moscow, but it is unclear how such a process will work, she said. The European Commission on Friday, as reported by Reuters. Moscow issued a decree in March proposing that energy […]
Real payments in digital rubles will begin in 2023
The Central Bank of Russia will begin to conduct digital ruble settlements in the real economy in 2023. This was reported to journalists by the head of the Central Bank Elvira Nabiullina. We are talking about pilot calculations. As Nabiullina emphasized, the Central Bank is counting on the use of the digital ruble in international […]
Russia says several buyers have agreed to pay in rubles for Russian gas
Several buyers of Russian gas have agreed to switch to payments in rubles, Russian Deputy Prime Minister Alexander Novak said today. “We are waiting for the decision (for a change in rubles) from other importers,” he added, with his comments being published in a periodical of his ministry. He did not disclose who the customers […]
S&P puts Russia in ‘selective bankruptcy’
Credit rating agency S&P Global has put Russia on “selective bankruptcy” for its external debt, as the country offered rubles to pay two dollar-denominated bonds that expired on April 4. The house said in a statement that payment in rubles instead of dollars was tantamount to “selective default”, as reported by CNN. What is selective […]
Vertical fall for the ruble after the partial lifting of capital controls in Russia
The Russian ruble has plummeted, losing some of last week’s gains as the central bank decided to ease capital controls to curb the currency’s decline. Late Friday night, the central bank announced that it would abolish the 12% commission imposed on the purchase of foreign currency through stock exchanges from April 11 and lifted the […]
Russia: The Ministry of Finance was forced to pay in ruble the holders of Eurobonds
Russia’s finance ministry said today that it had to pay in US dollar-denominated Eurobond holders maturing in 2022 and 2042 as a foreign bank refused to process a $ 649.2 million payment order to its holders. debt, as reported by Reuters. The Ministry of Finance announced that the foreign bank, whose name was not announced, […]