EU member states won’t pay for Russian gas in rubles, the European Commission said on Tuesday, rejecting Moscow’s March 31 deadline for switching payment mechanisms. The announcement comes a day after a similar response from the G7 nations. Last week, Russian President Vladimir Putin demanded that hostile countries, which have imposed …
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The Russian currency strengthened to more than a one-month high during trading on Tuesday, surging over 10% amid signs of progress in peace talks between Russian and Ukrainian negotiators. The looming ruble-for-gas payments deadline has also been lifting the currency. The ruble was trading below 83 against the US dollar …
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The Russian currency has risen dramatically over the past three weeks, reflecting the efficiency of the monetary policy adopted by the central bank in response to sanctions. Another major boost was last week’s government decision to demand that “unfriendly” states pay for natural gas only in rubles rather than in …
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Russian President Vladimir Putin has authorized the government, the central bank, and Gazprombank to take the necessary steps to switch all payments for Russian natural gas from “unfriendly states” to rubles starting March 31. The measure targets “member states of the EU and other countries that have introduced restrictions against …
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German gas industry group Zukunft Gas said on Wednesday it was confused by the statement of Russian President Vladimir Putin about the switch of payments for Russian natural gas supplies to rubles. “We took the message that Russia wants [us] to pay for gas supplies only in rubles with great …
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The ruble has surged on Wednesday after the announcement that payments for gas exports to certain Western countries will be switched to Russia’s domestic currency. The Russian currency immediately rose to a three-week high of 95 rubles against the dollar, before settling below 100. It also gained 3.5% against the …
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The Russian ruble has been gradually strengthening against the US dollar and euro, making gains for the sixth day straight on Thursday. The ruble plunged to historic lows amid Western sanctions after the country launched its military operation in Ukraine. At the opening of trading on the morning of March …
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Russian citizens and companies will no longer be able to pay off their foreign debts with currencies other than the ruble, the country’s central bank announced on Wednesday. Earlier reports also said the central bank had temporarily banned financial institutions from making money transfers from Russia abroad to non-residents, namely …
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The Central Bank of Russia has suspended currency interventions in support of the ruble, the head of the regulator, Elvira Nabiullina, announced on Monday. According to Nabiullina, the regulator is unable to carry them out because of Russia’s assets freeze by US and EU member states. DETAILS TO FOLLOW
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“It should be a real, full-fledged ruble – no discount or anything else,” the central bank’s governor Elvira Nabiullina told the State Duma committee this week, adding that the regulator expects to test the digital ruble for at least a year before an actual rollout. The task for the CBDC …
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