• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days Wind droughts
  • 18 hours Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 7 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 1 hour ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 5 days Oil Prices Fall After Fed Raises Rates
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 13 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 4 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 9 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 12 days The Federal Reserve and Money...Aspects which are not widely known

No, The Vatican Is Not Paying For Russian Gas In Rubles

A tweet went viral on Wednesday, claiming that the Vatican has reportedly become the first customer in Europe to pay in rubles for Russian natural gas. The report turned out to be a joke, the author of the tweet later said, apologizing to their followers.  

Still, the report made it in some Russian and even Western media. The bank of the Vatican bought rubles of the equivalent of $11 million (10 million euro) from the Central Bank of Russia, according to sources some Russian media quoted.

Russian President Vladimir Putin has set a March 31 deadline for the government, Gazprom, and the central bank of Russia to make the arrangements for payments in rubles for Russian gas from the so-called “hostile” countries.

The Russian President—whose list of “hostile” states includes the United States, all EU member states, Switzerland, Canada, Norway, South Korea, Japan, and many others—ordered last week the central bank to develop a system for payments in rubles within a week.  

On Wednesday, the energy markets in Europe were bracing for a potential disruption to Russian natural gas supply ahead of the March 31 deadline for ruble payments for gas.

The EU, G-7, and leaders of the biggest economies in Europe have said over the past week that changing the currency of the payments would be a breach of contract and that Europe would not be blackmailed into buying gas with rubles.

As the deadline for the gas-for-rubles switch approaches, Germany and other European countries activated emergency plans in case supply from Russia is disrupted or halted after Thursday.

In addition, Moscow signaled on Wednesday that it could soon demand rubles for other exports, including those of oil, metals, and grains. 

Russia, for its part, says it demands only rubles for its gas and will not give its gas for free. Kremlin spokesperson Dmitry Peskov said on Tuesday, as carried by Reuters:

“No one will supply gas for free, it is simply impossible, and you can pay for it only in rubles.”     

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News