Now Russia wants rubles for its natural gas. How long before they demand gold? From Moon of Alabama at moonofalabama.com:
On February 21 Russia announced that it would recognize the Donbas republics. A day later it did so. The ‘west’ immediately announced sanctions which in fact had been prepared in advance. On February 24 Russian troops crossed the border into Ukraine.
The Russian ruble immediately took a big hit. It has since recovered a bit.
Today’s news will bring the ruble to a new heights.
Kommersant reports (machine translation):
Putin instructed to convert gas contracts with unfriendly countries into rubles
President Vladimir Putin instructed to issue a directive to Gazprom to convert contracts into rubles for unfriendly countries. In his opinion, supplying Russian goods to the EU, the USA and receiving payment in dollars and euros “does not make any sense for us.” Against this background, the ruble moved to growth on the Moscow Exchange.