Tag ruble

Russia to Stop Gas Supplies to Finland Tomorrow Morning

Gas supplies from Russia to Finland will stop at 7 am this Saturday, as reported by the ‘Gasum’ Finnish company.   “In the afternoon on Friday, May 20, Gazprom Export informed Gasum that natural gas supplies to Finland under the agreement will be terminated on Saturday, May 21, 2022, at 07.00,” the message reads. Gasum Oy

Economics | Business  | 12.05.22

Gazprom Subsidiaries in Germany Stopped Receiving Russian Gas

German Economy Minister, Robert Habeck, reported that the German subsidiaries of Gazprom have stopped receiving gas from Russia since May 11, 2022.  “Yesterday [on May 11] in the evening, at about 10.30 pm, Putin published a decree according to which European enterprises are subject to sanctions. In Germany, Gazprom and its subsidiaries no longer receive

Hungary Agreed to Pay for Russian Gas and Oil in Rubles

Hungarian Foreign Minister, Peter Szijjarto, confirmed to CNN that his country will use the payment scheme introduced by Russia for Russian oil and gas.  “85 per cent of our gas and 65 per cent of our oil come from Russia. Why? Because it is determined by the infrastructure. This is not for entertainment, we did

Trading | Business  | 18.04.22

Russia to Accelerate Foreign Trade Transfer to Rubles

Russian President, Vladimir Putin, instructed on Monday, April 18, to accelerate the transition of Russia’s foreign trade to rubles and national currencies of other countries. He noted that the restrictions imposed by unfriendly countries against the Russian Federation “affected the opportunities of domestic business, hindered the logistics of export and import supplies, and also created

Economics | Business  | 31.03.22

Russia Offered Europe Alternative Gas Payment Scheme

Russia has offered Europe to continue paying for gas in euros, but through a Russian bank and with the mandatory opening of a ruble account. Several sources explained that for unfriendly countries, the payment from the buyer to Gazprom would have to be made exclusively in Russian currency. The sources do not indicate which bank

India Agreed to Stop Using Dollar in Trade With Russia

A system allowing direct rupee-ruble payments in trade between Russia and India could be launched this week, the president of the Federation of Indian Export Organizations (FIEO), A Sakthivel, told.   According to the official, the Indian government is working on a proposal to allow up to five nationalized Indian banks to be engaged in the

Russia Demands Europe Pay for Gas in Rubles

Today, at the meeting with Government, Russia’s President, Vladimir Putin, announced a decision to transfer payments for gas supplies from Russia to Europe into rubles as soon as possible. According to the head of state, Russia will refuse to accept payment for natural gas supplies in compromised currencies, including dollars and euros.  Putin noted that over

Economics | Business  | 24.01.22

Russian Central Bank Stopped Buying Foreign Currency

The Bank of Russia announced the suspension of currency purchases on the market as part of the budget rule in order to “reduce the volatility of financial markets.”  The decision to stop purchases was made after a sharp decline in the ruble exchange rate. During the auction on January 24, the dollar value exceeded 79