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Leaving aside the question of currency stability and this minor war bit, it seems that Europeans buying oil/gas in rubles is equivalent to buying the stuff in d
by jleyank 5y ago
Leaving aside the question of currency stability and this minor war bit, it seems that Europeans buying oil/gas in rubles is equivalent to buying the stuff in dollars. There are two middlemen: one that takes your currency and sells you dollars, and the other that takes dollars and sells you the oil/gas. Each gets a cut and the source of dollars has its currency supported.
In a “fair” market, the price of these two commodities are set by the market. The price of oil is somewhat/mostly out of the suppliers control. However, the creator of the currency has (far?) more control of its price for at least a short while. Greater profits while it lasts.