By Julianne Geiger Turkey’s President Tayyip Erdogan and Russia’s President Vladimir Putin agreed on Friday to bolster cooperation after a four-hour meeting, a joint statement from the two nations has revealed as cited by Reuters. As part of the deal, …
The days of the petrodollar – the U.S. dollar as the universal currency of exchange on the world market – may be coming to an end, the latest piece of evidence coming from Germany and Italy, which have both made …
Germany and Italy have allowed national companies to open ruble accounts in Russia’s Gazprombank to comply with the new natural gas payment scheme and avoid a supply cut-off, Reuters reported on Friday, citing sources. The move comes after Poland, Bulgaria …
by Chris Black Russia’s economy is growing, and doing fine, while the West’s is going to shit. We really taught those ruskies a lesson, didn’t we? “I think we have about 54 companies that have contracts with Gazprom Export,” #Russia's …
ROME — Italy wants the European Commission to clearly spell out how companies can pay for Russian gas without falling afoul of sanctions levied after the invasion of Ukraine, Italian Prime Minister Mario Draghi said on Monday. “It’s very important …
European Commission President Ursula von der Leyen warned companies not to bend to Russia’s demands to pay for gas in rubles, as the continent scrambles to respond to Moscow’s move to start switching off supplies. Gazprom PJSC turned off the …
by Chris Black Them crazy ruskies finally did it! It’s springtime in Eastern Europe (not very cold outside), and these two countries don’t have the type of heavy industry that Germany has, i.e. they are not as dependent on Russian …
by Chris Black Vladimir Putin signed on March 31, 2022 the decree on Russian gas trade with countries that are hostile to him and that have imposed sanctions against him, including the freezing of Russian assets in Western banks. But …
VATICAN BANK TRANSFERRED 10 MILLION EUROS TO BUY RUBLES FROM THE CENTRAL BANK OF RUSSIA TO PAY FOR GAS – MEDIA — First Squawk (@FirstSquawk) March 30, 2022 A direct challenge to the Dollar.
By Charles Kennedy Russian President Vladimir Putin has instructed Gazprom, the central bank of Russia, and the Russian government to come up with a report by the end of March on how to change the payment for Russian gas to …
The central bank in Russia just announced they will buy gold at a specified rate from its banks for the next three months. While this rate is under the current price of gold, it effectively pegs the ruble to gold …
by Chris Black This is huge — I cannot emphasize how big a deal this is. As a practical matter, European demand for Rubles will mean that the Ruble as a currency will have enormous price support. Europe will buy …
Russia is teetering on the edge of a possible sovereign debt default, and the first sign could come as soon as Wednesday. The Russian government owes about $40 billion in debt denominated in U.S. dollars and euros, and half of …