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I don’t see Russia stop selling gas and oil to the EU. Russia needs the money as much as the EU needs the gas. They may start using an artificial exchange rate
by Someone 5y ago
I don’t see Russia stop selling gas and oil to the EU. Russia needs the money as much as the EU needs the gas. They may start using an artificial exchange rate for the rouble, though.
About 40% of EU gas usage (and over a quarter of its oil usage) is Russian gas (https://www.weforum.org/agenda/2022/03/eu-energy-russia-oil-gas-import/ https://www.weforum.org/agenda/2022/03/eu-energy-russia-oil-...).
They plan to reduce that by ⅔ by the end of the year (https://ec.europa.eu/commission/presscorner/detail/%5Beuropa_tokens:europa_interface_language%5D/ip_22_1511 https://ec.europa.eu/commission/presscorner/detail/%5Beuropa...)
- iamsanteri 5y agoWow thats an insane change in just a year. Jesus, it looks like Russia is really driving itself into a corner and the time is ticking.
- mediumsmart 5y agoSo true, the chess clock is ticking while the west is playing lego in their corner. >The Ruble strengthened against the $: from 104R to 97R in matter of less than two hours after president #Putin's historical announcement on gas being sold only in Rubles to the West. De-dollarization.
- bigbizisverywyz 5y agoThe EU and other counties can get the gas and (especially) oil elsewhere, admittedly at not such a cheap price. Russia however has just alienated its biggest paying customers, and for what?