Germany: G7 rejects Russia's demand to pay for gas in rubles

[BlueWavePsych]

Source: ABC

BERLIN -- The Group of Seven major economies have agreed to reject Moscow’s demand to pay for Russian natural gas exports in rubles, the German energy minister said Monday.

Robert Habeck told reporters that “all G-7 ministers agreed completely that this (would be) a one-sided and clear breach of the existing contracts.” He said officials from France, Germany, Italy, Japan, the United States, the United Kingdom and Canada met Friday to coordinate their position and that European Union representatives also were present.

Habeck said that “payment in ruble is not acceptable and we will urge the companies affected not to follow (Russian President Vladimir) Putin’s demand.”

*snip*

“Putin’s demand to convert the contracts to ruble (means) he is standing with his back to the wall in that regard, otherwise he wouldn’t have made that demand,” Habeck said, adding that Russia needs rubles to finance its war at home, such as payments to troops.


Read more: https://abcnews.go.com/Business/wireStory/germany-g7-rejects-russias-demand-pay-gas-rubles-83718737

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[Bernardo de La Paz]

1. I expect Russia would want dollars anyway

They can print as many rubles as they need.

If they get rubles, they have to sell them for dollars to get the imports they want, at least those that they can get by smuggling or sanction-busting.

It's just a pride thing, cutting their own nose to spite somebody's else's face.

[DFW]

2. The trouble is the current exchange rate

To pay for the amount of oil and gas being imported from Russia, there are not enough rubles left in all Russia to pay for it.

These, days, when you make a long distance call from a Russian pay phone, the operator comes on and says, "please deposit ten billion rubles for the next three minutes."

(That one is for those old folks who actually remember what a pay phone is and what an operator is)

[SouthernDem4ever]

3. Who are you calling old?

LOL

[DFW]

4. Ten days ago, I just turned 70

So in the first place, that would be me!

[SouthernDem4ever]

5. Not too far behind ya