Vlad Demands Roubles.......

[ToraToraTora]

https://news.sky.com/story/ukraine-war-putin-demands-payment-in-roubles-for-russian-gas-supplies-or-contracts-will-be-halted-12578915
....great at a shilling for a hundred weight that must make it a lot cheaper!

[itchycopark]

but we have to buy the rubles ( correct spelling)to pay for it, thats the problem

[ichkeria]

They’d already backed down on I thought.
Oh well …

[ToraToraTora]

"but we have to buy the rubles ( correct spelling)to pay for it, thats the problem " - yes and they are a 10 a penny!

[THECORBYLOON]

The latest is 108.40 roubles to the pound but on the 7th March, it was 182 roubles to the pound.

[ichkeria]

The Russians introduced emergency measures to prop their currency which is why the rouble has crept back up to pre-invasion levels

[itchycopark]

Rising fast: +4.50% the previous close price of 99.80 RUB

[itchycopark]

ToraToraTora
they want nearly all western Europe to use rubles to buy it therefore everyone wants to buy rubles, keep up/

[ichkeria]

Butcher threatens to cut off his supplies of nose to spite his soon to be bankrupt face

[Ellipsis]

The trouble is the rubble Vlad's made,
That's why he won't, in rubles, get paid ...
In fact, the cash should be kept
For reparations ... Jesus wept!
There's a lot of 'em already.

[EdmundD]

Breach of contract payment terms, no?

[ichkeria]

The rubble has recovered due to interest rates of 20% and capital controls.

Trying to encourage people to hang on to them
If he stops the energy revenue it’ll all go pop

[gingejbee]

@ 16.51...there is no "correct" spelling for the Russian currency..as it is no more than a phonetic version of a word written in the Cyrillic alphabet (since you brought the subject up!).

[itchycopark]

i just looked it up on the web before texting gingbee,din't want to make a mistake, but i knew someone would pick me up on it

[ichkeria]

As I understand it, what is actually likely to happen is that payments either continue in Euros and dollars but into a different bank namely Gazprombank, which is not sanctioned by Europe.
That way the payments could not be frozen.
Unless Gazprombank is also sanctioned of course

[Gromit]

In crisis’ Governments have to borrow heavily to cushion the public from the adverse affects of the problem. Then at some stage the money has to be paid back.

In 2008/9 there was a world financial crisis. The Government borrowed heavily. In my opinion they spent wisely. They didn’t pay everyones mortgage. They didn’t nationalise the banks. They bought shares in viable banks and saved many of them which went on the not just survive but thrive. When the bank stock became desirable, the Government was able to sell its share and recoup a lot of the money back. And give a windfall to subsequent Chancellors.

This pandemic crisis also needed heavy Government borrowing. The Government paid workers through furlough. Money it will never get back. It paid over the odds for technology (without tender) and often got junk which is unsellable. There are not many assets to sell .

So I cannot criticise the Government for trying to make money from anything that has been a success. Just a pity the list is short.

[Gromit]

^
Post in round thread. Perhaps someone can remove it.

[ichkeria]

So Putin backed down.

Saving his face …

Not sure I’m pleased about that or not :-)

[mushroom25]

// So Putin backed down. //

no reason not to, at least for now. the ruble is back where it was pre-sanctions.

[ichkeria]

I’m puzzled by this whole business. Plainly the current status of the rouble is nothing to do with it, as it’s no stronger or weaker than it was a couple of days ago

Was Putin just testing Europe’s resolve?
It looked like Germany was calling his bluff: he had to face the real prospect of bankruptcy. If this was an attempt to look tough at home it failed. But he controls the media at home anyway and is allegedly more popular than ever. So no need, you’d think.
He’s becoming a specialist in failure.
As a typical bully, when faced with force from a stronger power he backs away.
We banned RT - for years one argument against was he’d ban the BBC in revenge. It’s not happened.
His big move yesterday was to ban EU leaders from Russia, to general amusement.

And Bucha is liberated. Next stop Gostomel …

[William51]

Proof he is getting desperate.