President of Russia, Vladimir Putin has released his firmest statement yet in a move that quite a few countries had in the back of their head. Putin now wants countries both he and his administration deems to be “unfriendly” to pay for Russian gas in rubles.
It’s a move that shows signs of Russia trying to strip themselves Russia’s from the petrodollar which is vital to the USA’s hegemony.
In a televised government meeting, he made it clear what is his intentions are, “I have decided to implement … a series of measures to switch payments — we’ll start with that — for our natural gas supplies to so-called unfriendly countries into Russian rubles,”. He stated.
He also went on to address the fact that the US dollar is deemed to be compromised and not trustable given the harsh sanctions on Russia imposed by the west. This move will help to prop up the ruble if it was to succeed.
It’s seen as a countermeasure and it’s probably just the start of it. Given the fact that Russia still supplies oil to Europe despite the hostility towards, it begs me to think what will happen if the situation deteriorates even more between the West and Russia.
As Biden is going to meet with NATO allies in Europe this week, a lot of questions will be looming over the entire situation and how they are going to plan to “contain” Russia. It will be an interesting couple of weeks ahead as the invasion of Ukraine continues.
