Today, March 31, 2022, is the deadline to shut off LNG from Russia if importers don't agree to pay in rubles.
https://fortune.com/2022/03/15/russian-ruble-expert-opinion-invasion-ukraine-continues/#:~:text=Through%20the%20first%20days%20of,per%20dollar%20by%20March%207.
Through the first days of the conflict in Ukraine, the Russian ruble lost roughly half of its value, going from 84 rubles per dollar prior to the invasion to as high as 154 rubles per dollar by March 7.
Interesting fact is that Russian ruble is back to pre-war levels even before anyone started paying in rubles. The Market did align itself with the west, but the smart money is now betting on the ruble. And some people are putting blames on the anti-nuclear activists in Europe for making them dependent on Russian fossil fuels.
The price of LNG from the US is 5 times higher than pipeline gas from Russia.
Can the west withstand the pressure? Or will it be every man for themselves?
https://www.reuters.com/article/us-nato-summit-pipeline-idUSKBN1K10VI
Trump's supporters cliamed that Trump had warned Germany not to rely on Russia for energy - and it's happening.
"Trump, meeting reporters with NATO Secretary General Jens Stoltenberg, before a NATO summit in Brussels, said it was “very inappropriate” that
the United States was paying for European defense against Russia while Germany, the biggest European economy, was supporting gas deals with Moscow. "
When Russia is weaponizing its energy - no rubles, no gas.
https://fortune.com/2022/03/15/russian-ruble-expert-opinion-invasion-ukraine-continues/#:~:text=Through%20the%20first%20days%20of,per%20dollar%20by%20March%207.
Through the first days of the conflict in Ukraine, the Russian ruble lost roughly half of its value, going from 84 rubles per dollar prior to the invasion to as high as 154 rubles per dollar by March 7.
Interesting fact is that Russian ruble is back to pre-war levels even before anyone started paying in rubles. The Market did align itself with the west, but the smart money is now betting on the ruble. And some people are putting blames on the anti-nuclear activists in Europe for making them dependent on Russian fossil fuels.
The price of LNG from the US is 5 times higher than pipeline gas from Russia.
Can the west withstand the pressure? Or will it be every man for themselves?
https://www.reuters.com/article/us-nato-summit-pipeline-idUSKBN1K10VI
Trump's supporters cliamed that Trump had warned Germany not to rely on Russia for energy - and it's happening.
"Trump, meeting reporters with NATO Secretary General Jens Stoltenberg, before a NATO summit in Brussels, said it was “very inappropriate” that the United States was paying for European defense against Russia while Germany, the biggest European economy, was supporting gas deals with Moscow. "