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Weekend Reads rubles rises despite new sanctions.

16:50  07 april  2022
16:50  07 april  2022 Source:   de.reuters.com

Russia will not provide free gas to Europe, says the Kremlin

 Russia will not provide free gas to Europe, says the Kremlin Ukraine-crisis-Russia-Gaz: Russia will not provide free gas to Europe, says the Kremlin © Reuters / Maxim Shemetov Russia will not provide free gas to Europe, says Kremlin (Reuters) - Russia reflects on methods to accept the payment of its natural gas exports to rubles and it will make decisions in due time If its European customers refuse to use the national currency, said Monday the Kremlin.

at the foreign exchange market has risen the course of the ruble on Thursday despite a planned new sanction package of the EU.

Russische Rubel-Banknoten liegen auf einem Tisch. © Sven Hoppe / DPA Russian rubles banknotes are on a table.

The Russian currency has continued the course recovery of recent weeks. In the morning, 79 rubles were paid for a US dollar. The course is about the level, which he last immediately before outbreak it had Ukraine war at 78 rubles. Analysts refer to the high key interest rate of the Russian central bank, strict capital controls and on surpluses in the trade balance by the still possible energy exports.

After the beginning of Ukraine War on February 24, the course of the ruble was broken first, temporarily has been paid for a dollar up to 177 rubles. In recent weeks, however, the course recovered quickly. With the sanctions of the Western industrialized countries against the Russian central bank, the ruble is no longer a freely tradable currency. But at the foreign exchange market, the currency is traded with restrictions, which allows a ruble exchange rate.

The EU wants to end the "golden passports" in the context of the sanctions against Russia

 The EU wants to end the Ukraine-Crisis-EU-VisaSDOR-S: the EU wants to end the "golden passports" in the context of the sanctions against the Russia © Reuters / Dado RUVIC The EU wants to end the "golden passports" in the context of sanctions against Russia by Francesco Guarascio (Reuters) - The European Commission has called on Monday the members of the block to repeal Monday to repeal any program Existing investment citizenship, regimes also known as "Gold Passports", and urged them to withdraw residence permits issu

For a reason for the recovery of the rubles, foreign exchange expert TATHA Ghose sees from Commerzbank in high interest rates in Russia. The country's central bank had doubled the key interest rate at the end of February to 20 percent. In addition, the Commerzbank expert referred to strict capital controls. The central bank has limited the export of foreign exchange. In addition, sanctioned oligarchs and companies can not transfer money from Russia to foreign bank accounts.

analysts also refer to the Russian trade balance. "The trade balance is likely to improve after sanctions," said Commerzbank expert Ghose. Because during the export of Russian energy such as petroleum or gas is still possible, the import of Western goods was severely limited by sanctions.

Russia wants to develop the payment of rubles, without mentioning a deadline .
Ukraine-crisis-Russia-ruble: Russia wants to develop the payment of energy in rubles, without mentioning a deadline © Reuters / Sputnik Photo Agency Russia wants to develop the energy payment in rubles, without mentioning deadline (Reuters) - Kremlin spokesman, Dmitry Peskov, said Friday that Russia wanted to develop the use of Ruble for energy exports, adding that it was too early to evoke a calendar.

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