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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: John Koligman who wrote (760455)	3/30/2022 2:59:11 PM
From: skinowski	Respond to of 793778

money would be paid into Gazprom Bank, which is not a subject of sanctions, and then transferred in rubles to Russia, according to a German statement. That would work. Presumably, what triggered the issue of demanding payments in rubles was that every Euro or Dollar they would get paid was subject to seizure under the sanctions. If the payment goes into a Russian bank, they could turn around and buy Rubles - and transfer them to Russia. Often, people think that it’s important in what currency Oil or Gas are priced. What creates demand for a currency is in what currency the seller is planing to hold the proceeds. You can price the product in any currency you want - but if the seller wants, say, Euros - that’s what they will get on their end.