Russian President Putin And German Chancellor Olaf Scholz Agree To Pay For Russian Gas In Rubles But Via Through The Gazprom Bank

RT: Russia's Putin and Germany's Scholz talk gas for rubles

Vladimir Putin assured his German counterpart that gas contracts wouldn’t be affected by the switch to Russian currency Russian President Vladimir Putin and German Chancellor Olaf Scholz spoke by phone on Wednesday to discuss Moscow's demand that Berlin pay for Russian gas with rubles, rather than in euros or dollars.

According to the German version of events, Putin agreed that payments would continue for the moment in either of the two Western currencies, with the Kremlin stating that these payments would then be converted into the Russian currency.

Moscow claimed that Putin explained to Scholz that his government is now demanding payment in rubles “due to the fact that, in violation of international law, the foreign exchange reserves of the Bank of Russia were frozen by the EU member states.” However, Putin told Scholz that the switchover would not result in less advantageous contract conditions for German importers.

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Update: Russia's Putin, Germany's Scholz spoke, agreed to hold talks on gas purchases in roubles (FXStreet) WNU

Editor: The agreement is that Germany would pay for the natural gas to the Gazprom Bank, which is not a subject of sanctions, and then transferred in rubles to Russia. More details here .... Germany says Putin agreed to keep payments for gas in euros (DW), and here .... Germany claims Russia ready to convert gas payments into rubles through Gazprombank (TASS).

This is a huge win for Putin. And so much for sanctions.

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