Yah Russia's gambit to demand oil payment in Rubles is going to fuck the West hardcore. Because unlike dollar, Russia has not printed more in decades, and will not be issuing more any time soon. And outside of Russia they are rather hard to get a hold of for exchange. So when dealing in dozens of billions for oil sales, their costs just from the currency exchange is insane.
Then factor in the flow of Rubles is one way. Since Russia is banned from trading via sanctions they have to find rubles that outside Russia, send them to russia to buy oil they HAVE to have, and then try to find more knowing no rubles will be leaving Russia for the West.
Then factor in further, the North Sea is dry, the Middle East is drying up and china has already secured much of their oil, the USA stopped much of its production under Biden, and Biden is blocking expansion of production on the western hemisphere.
EU is already deep in an energy crisis that is only getting worse by the week.
Meanwhile Russia has everything it needs in its own borders, so its sanctions proof. Sanctions only work on small nations with import economies. Russia is a massive exporter of food and raw resources, not finished goods, and 1/2 the world isn't in on the sanctions. So its laughing in profits as the EU and US goes broke at the pump. And a strong trade alliance with China for whatever else it wants. It doesn't mind paying a Chinese markup for trafficked western-originated goods or materials, because Russia is winning the trade war hands down.
And Russia is NOT missing western-made goods. As we all know everything the West makes any more is garbage that breaks by design and then the company refuses to sell replacement parts and sues you if you try to fix it yourself.
Yah Russia's gambit to demand oil payment in Rubles is going to fuck the West hardcore. Because unlike dollar, Russia has not printed more in decades, and will not be issuing more any time soon. And outside of Russia they are rather hard to get a hold of for exchange. So when dealing in dozens of billions for oil sales, their costs just from the currency exchange is insane.
Then factor in the flow of Rubles is one way. Since Russia is banned from trading via sanctions they have to find rubles that outside Russia, send them to russia to buy oil they HAVE to have, and then try to find more knowing no rubles will be leaving Russia for the West.
Then factor in further, the North Sea is dry, the Middle East is drying up and china has already secured much of their oil, the USA stopped much of its production under Biden, and Biden is blocking expansion of production on the western hemisphere.
EU is already deep in an energy crisis that is only getting worse by the week.
Meanwhile Russia has everything it needs in its own borders, so its sanctions proof. Sanctions only work on small nations with import economies. Russia is a massive exporter of food and raw resources, not finished goods, and 1/2 the world isn't in on the sanctions. So its laughing in profits as the EU and US goes broke at the pump. And a strong trade alliance with China for whatever else it wants. It doesn't mind paying a Chinese markup for trafficked western-originated goods or materials, because Russia is winning the trade war hands down.
And Russia is NOT missing western-made goods. As we all know everything the West makes any more is garbage that breaks by design and then the company refuses to sell replacement parts and sues you if you try to fix it yourself.