Russian President Vladimir Putin is serious about taking revenge on countries that are on the list of unfriendly countries. He ordered the experts to form a working team to realize his revenge.
Putin’s response was to ask enemy countries to pay for fuel purchases from Russia in Russian rubles. As quoted by Reuters on Tuesday (5/10/2022).
The prerequisite is opening an account with a private Russian bank, Gazprombank. Thus, countries whose payments are made in euros and dollars can be converted into rubles.
Countries that do not follow these rules will of course stop buying. This is what happened in Poland and Bulgaria.
The working team named by Putin is later asked to create infrastructure or international payment rules in rubles.
The requirements that are made also apply to countries that are still friends with Russia, such as China and India. It is not yet clear how the rules for the Russian version of friendly and enemy countries will differ.
The working team was led by Russian Presidential Advisor Maxim Oreshkin, and included high-ranking officials such as Central Bank of Russia Governor Elvira Nabiullina. The transition to the rules for paying in rubles is intended to reduce the risk of freezing almost half of Russia’s $640 billion in foreign exchange reserves.
Countries on Putin’s list of unfriendly countries include the United States, Canada, Britain and European Union member countries.
It should be noted that Putin’s revenge came as a result of repeated sanctions imposed on Russia by Western countries. The sanctions were imposed in response to Russia’s invasion of Ukraine.
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