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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