Yes, just as I thought.
The source is from a pro-Russian publication
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Is that what your fearless leader told you?
The Russian demand has been rejected by European countries, which pay for Russian gas mostly in euros and say Russia is not entitled to redraw contracts, and by the G7 group of nations.
Russia won't demand immediate switch to rouble gas payments, Kremlin says
Europe, which imports about 40% of its gas from Russia and pays mostly in euros, says Russia’s state-controlled gas giant Gazprom is not entitled to redraw contracts.
All Russia's big exports could soon be in roubles, Kremlin signals
Italy is heavily dependent on Russian gas, and Draghi had previously rejected this. The statement from his office did not say what his response was to Putin’s description of how it would work.
Putin explained to Italy's Draghi how to pay for gas in roubles - Draghi's office
Doesn’t sound like “Resignation” to me.
Oh, you mean this Saker?
The Empire’s war on Russia??? What kind of KoolAid are these people addicted too?
Thanks for the sobering info write4U & mrmhead.
Latest from moscow
“if unfriendly countries do not pay in rubles starting from April 1, we will consider this a default on gas contracts, in which case the existing contracts will be scrapped,”
As discussed in the Duran video let’s see who blinks first
Michael Hudson is an American economist, Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist.
He ain’t no dirty Russian
Latest from Who in moscow?
Last you said moscow will give them time for the adjustment, and even some of the Russians have said this can’t happen overnight.
Or is it more disinformation fed to Putin by his yes-men?
Maybe Moscow upping the ante after this stunt?
Okay, so? What’s the message we should be taking from this? That our financial leaders are as cut throat as ever? Okay. Next?
Trump was an American President and he committed sedition, if not treason, against America.
This is why Americans voted for a regime change and elected Biden, who lives by his Oath of Office.
Oath of Office
I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter: So help me God.
The take away from the Michael Hudson interview
MF: You’ve talked a lot and written a lot about dollar hegemony and what’s happening now with de-dollarization. Can you start out by explaining to my listeners what dollar hegemony is and how it has benefited the wealthy class in the United States?
MH: Dollar hegemony seems to be the position that has just ended as of this week very abruptly. Dollar hegemony was when America’s war in Vietnam and the military spending of the 1960s and 70s drove the United States off gold. The entire US balance of payments deficit was military spending, and it began to run down the gold supply. So, in 1971, President Nixon took the dollar off gold. Well, everybody thought America has been controlling the world economy since World War I by having most of the gold and by being the creditor to the world. And they thought what is going to happen now that the United States is running a deficit, instead of being a creditor.
Well, what happened was that, as I’ve described in Super Imperialism , when the United States went off gold, foreign central banks didn’t have anything to buy with their dollars that were flowing into their countries – again, mainly from the US military deficit but also from the investment takeovers. And they found that these dollars came in, the only thing they could do would be to recycle them to the United States. And what do central banks hold? They don’t buy property, usually, back then they didn’t. They buy Treasury bonds. And so, the United States would be spending dollars abroad and foreign central banks didn’t really have anything to do but send it right back to buy treasury bonds to finance not only the balance of payments deficit, but also the budget deficit that was largely military in character. So, dollar hegemony was the system where foreign central banks keep their monetary and international savings reserves in dollars and the dollars are used to finance the military bases around the world, almost eight hundred military bases surrounding them. So, basically central banks have to keep their savings by weaponizing them, by militarizing them, by lending them to the United States, to keep spending abroad.
This gave America a free ride. Imagine if you went to the grocery store and you just paid by giving them an IOU. And then the next week you want to buy more groceries and you give them another IOU. And they say, wait a minute, you have an IOU before and you say, well just use the IOU to pay the milk company that delivers, or the farmers that deliver. You can use this as your money and just you’ll as a customer, keep writing IOU’s and you never have to pay anything because your IOU is other people’s money. Well, that’s what dollar hegemony was, and it was a free ride. And it all ended last Wednesday when the United States grabbed Russia’s reserves having grabbed Afghanistan’s foreign reserves and Venezuela’s foreign reserves and those of other countries.
And all of a sudden, this means that other countries can no longer safely hold their reserves by sending their money back, depositing them in US banks or buying US Treasury Securities, or having other US investments because they could simply be grabbed as happened to Russia. So, all of a sudden this last week, you’re seeing the world economy fracture into two parts, a dollarized part and other countries that do not follow the neoliberal policies that the United States insists that its allies follow. We’re seeing the birth of a new dual World economy.
Really hate it when economists compare Central banks to me going to the grocery store
Big if true – as the saying goes.
If that happens the potential for a 3rd world war probably will increase by a hell of a lot.
The Chinese have already called this - saying this will be bigger than the change WW2 brought to the global order
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I see. Russia laying waste to a country of 40 million people is insufficient cause for drastic punitive damages? It is not like the US is keeping all this money is it?
We use it to buy arms, foods, medical supplies for the Ukrainians.
I think that is a perfectly reasonable justification.
It is Russia that is WAGING WAR AND KILLING HUMAN BEINGS !!!
And why? GREEEEEEEEED!!!
If he says so.
Okay, so what’s lesson are we to draw from this?
I myself am way the hell more worried about the skyrocketing cost of getting crops into the ground here at home, and the weather related upsets that can happen to those crops before they can be successfully harvested.
Although speaking of the difficulty of getting crops into the ground this year . . .
Russia and Ukraine are Europe’s breadbasket; the International Food Policy Research Institute estimates that their exports represent 12 percent of all the food calories traded in the world. The two countries account for almost 30 percent of global wheat exports, almost 20 percent of corn exports, and more than 80 percent of the world supply of sunflower oil.
Those exports are stalled . . .
This is the stuff that scares the poop outta me.
{No one was going to invade Russia, Putin’s paranoid and hysteria is his own doing and his become a villain on the order of Hitler. But you seem to be supportive, or is that my imagination?}
Wheat will also have to be paid in roubles . USA forever war policy with zero effort on the diplomatic front has come to this
Get real. Putin has already rescinded this demand for rubles.
Learn to spell “ruble” before you talk economics.
p.s. the ruble = 0.012 dollar
Wait - wasn’t Putin finished after he destroyed the value of the Russian currency? Not really
Experts say more ‘dark days’ are ahead for the Russian ruble as the invasion of Ukraine continues
Russia’s invasion of Ukraine set off a cascade of economic consequences worldwide, but for average Russians, the ruble’s depreciation may have hurt the most.
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.
Although the ruble has since regained some of its value, rising to 96.5 rubles per dollar on Tuesday, experts say the currency will face more pressure as the West’s economic sanctions increasingly bite.
LOL… Ruble soars to a high of 0.83 cents . You do understand that this translates to the equivalence of; 83 rubles = 1 US dollar 1.2 ruble = 1 cent
Lol the economic warfare on Russia has failed. Ruble is back where it was before the war.