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Musk says he’ll switch parties in next election

Tesla founder Elon Musk said he will vote for Republican candidates in the next election, stressing that while he sees himself as a political moderate and has never supported the GOP, he can no longer side with the Democrats. Speaking virtually at an event hosted by the All-In podcast in …

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Russia explains gas for rubles switch

Russia’s decision to change the payment mechanism for natural gas exports to its domestic currency is “obvious and understandable” in light of Western sanctions, which have frozen half of Russia’s foreign assets, Foreign Minister Sergey Lavrov said in an interview with India Today on Tuesday. According to Russia’s top diplomat, …

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Moscow explains switch to ruble for gas payments

Moscow’s latest decision to switch to its national currency for gas payments was made to secure Russia’s ability to trade and to ensure that its producers receive their money despite Ukraine-related Western sanctions, according to Dmitry Peskov, press secretary to President Vladimir Putin. “Amid this growing distrust toward reserve currencies …

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India about to switch to domestic currencies in trade with Russia

A system allowing direct rupee-ruble payments in trade between Russia and India could be launched this week, the president of the Federation of Indian Export Organizations (FIEO), A Sakthivel, told CNBC on Wednesday. The arrangement would allow India and Russia to carry out financial operations bypassing the US dollar. Russia …

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Ruble rockets on gas currency switch

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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