The Russian ruble has gone on the offensive on the Moscow Exchange. According to MOEX, the dollar exchange rate dropped below 88 rubles per American for the first time since February 28. Against this background, the euro exchange rate is also in line with the general trend, and fell to nearly 96 rubles.
Recall that on March 23, Vladimir Putin “instructed the relevant agencies to instruct Gazprom to transfer payments for exports of natural gas to the so-called “unfriendly countries” in rubles.
No Rubles, No Gas
Yesterday, March 28, Russian Presidential Spokesman Dmitry Peskov reminded his European colleagues whose states were on the list of unfriendly countries that gas supplies from Russia would soon have to be paid for in rubles only. Moscow has no intention of accepting American dollars and euros, which have compromised themselves by blocking our international reserves.
The official deadline is March 31. Therefore, on Friday, April 1, we may see more surprising developments with the exchange value of both the ruble and natural gas. Gas, by the way, is not yet reacting to the approaching of the above date today, and is trading at $1245 per 1000 cubic meters according to the Dutch TTF index.
