We had too and fro over the past few days following the Russian decision to suspend gas deliveries to Bulgaria and Poland, after they failed to agree to Russian demands that all payments for gas needed to be made in rubles. There was a piece in the FT earlier this week, suggesting that numerous European entities, and countries, had agreed to transact in ruble for gas. It felt a bit like the dam was breaking, which is really what Moscow wanted.
excellent points. My sense is that while this may slow the trend, it is not going to stop it as long as Putin is in power and they continue their attacks in Ukraine. But politics makes strange bedfellows so can never rule anything out.
So the question is - where does this leave us? Obviously Poland and Bulgaria have refused, other European countries are dragging their feet. Have any countries actually made payments in Rubles yet? Italy was talking of paying in Rubles and obviously Hungary are more than happy to. Will this statement from the European Council make clear that any European countries paying in Rubles will be sanctioned?
excellent points. My sense is that while this may slow the trend, it is not going to stop it as long as Putin is in power and they continue their attacks in Ukraine. But politics makes strange bedfellows so can never rule anything out.
So the question is - where does this leave us? Obviously Poland and Bulgaria have refused, other European countries are dragging their feet. Have any countries actually made payments in Rubles yet? Italy was talking of paying in Rubles and obviously Hungary are more than happy to. Will this statement from the European Council make clear that any European countries paying in Rubles will be sanctioned?