1:51 PM · 31 March 2022

Putin demands payment for gas in rubles - mood deteriorates

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Putin has just signed a decree requiring a payment in rubles for Russian gas:

Payment for Russian gas must be made in rubles
Customers should open accounts with Russian banks, namely Gazprombank
If the requests are not met, active contracts will be terminated
Payments in euros and dollars will be blocked
Russian gas is cheaper than the spot market
Russia will supply gas in line with prior agreements and prices
Moods worsened after the announcement was made. The dollar is clearly gaining, and crude oil is also recovering.

EURUSD pair fell sharply after reports from Russia. Source: xStation5

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Economic reports

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