Friday, April 1, 2022

Chairman of Russian State Duma Calls For Payment In Roubles For Metals, Grains and Fertilizers

A quick hit from Reuters via Nasdaq, March 30:

Pay Russia roubles for oil, grain, fertilizer and metals, suggests parliament speaker 

Russia should sell oil, grain, metals, fertiliser, coal and timber for roubles on global markets where it is profitable for Russia, the speaker of the lower house of parliament, Vyacheslav Volodin, suggested on Wednesday....

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This guy sounds like a bit of a hardliner. The Wall Street Journal added some detail:

“You have to pay for your decisions,” Mr. Volodin said in a Telegram post on Wednesday, referring to sanctions against Russia. He said that Europe has the ability to pay in rubles and that sanctions on Russia isolate Europe. “In your effort to isolate us through the politics of sanctions, you isolated yourselves,” he said.

https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-03-30/card/russia-should-broaden-demands-for-ruble-payments-duma-chairman-says-Bob73j0dPE4OvzQxNlDT