Russian media reports Putin has given “hostile” countries a March 31 deadline to begin payments for natural gas imports in rubles. It affects countries that froze its foreign currency reserves.
The media reports that after March 31st, Europe will not get free gas if countries refuse to pay in rubles. “We are not going to supply gas for free, this is clear,” Kremlin spokesman Dmitry Peskov said on Tuesday.
Europe depends on Russian gas for 40% of its needs. Today, German officials announced that Germans should prepare to face gas rationing. It will be a major hit to Europe’s economy as gas goes sky-high. As German chancellor Olaf Schols warned, it will trigger an economic recession across Europe.
On a broader scale, there is a risk of a global energy crisis. At the same time, Biden is trying to accelerate the destruction of the US oil and gas industry.
As for oil, Russia supplies around four million barrels of oil per day to the European Union. Unlike gas, the supply of which to a greater extent is still regulated by long-term contracts, the price of oil is volatile and is determined by supply and demand. If Europe still decides to abandon Russian oil, then crude prices could soar to $200 per barrel, or even higher, analysts warn.
That will greatly advance the goals of The Great Reset in the West.
The West is going on a wartime footing over Ukraine.
Putin believes that if the West imposes more sanctions, it raises the possibility that other Russian export commodities could be priced in rubles, including crude oil, coal, metals, rare earths, minerals, precious stones, noble gases, timber, fertilizers, food oil and grain.
Russia will lose money too but they can direct some of their gas supplies to Asia.