They get your gas in rubles and you get other things from the west in dollars, pound and euro. The world is a no man's land, so no one can be mad forever or remain an island. Putin can't survive this for long, for as far as today's economics is concern a buyer always has the upper hand than the seller.

Rubles wey no get value again?The pot flavoured vodka Putin dey drink no get rival.
Abeg come Nigeria.We get plenty gas.

Exactly

Walkee:
lol ignorance. This is how it should be normally. How can Nigeria be selling our own gas and oil in US currency? What happened to our Naira? If you knew what USA have done in the past to prevent this kind of things you won't even be typing this. This was why Gaddafi was killed

3idiots:


The way some of you come here to analyze what you don't know with so much confidence surprises me!

I don't what to go into all the stuff you wrote, I don't have time for that. But your common sense should have told you that if Russia needed Dollars, they would ask to be paid in dollars not rubbles.

That's where you miss it. There's a sanction to stop Russia accessing dollars, if Russia asks to be paid in USD, they know it's NOT possible.

Russia needs money by selling her oil and gas. Why don't you ask yourself why Russia doesn't stop selling her oil and gas to western nations totally? Because they need money! And country like India will only buy Russia oil at a discount. Reason!

This thing sef dont make sense. How i go dey trade for my country they pay u with dollars. And the owner of the dollar go dey collect he small percentage

Good way to defend their economy.

mployer:
He is not the sole supplier of gas.

U are right but right now russia is the only one with a pipeline to transport gas. Which makes gas cheaper. Others including Nigeria needs ships to transport gas to Europe and given the quantities consumed by Europe. Transportation by ship is possible but will cost so much.
Example the largest lpg ship can transport 250,000mt. Germany consumes 53 million mt per day. Do the maths of no of ships required per day

Dpharisee:
Germany has announced that their companies won't be leaving Russia and they have no alternative to Russian gas

germany signed a deal with either Iran or Iraq as an alternative, I saw in the news .

simplesearch:
They get your gas in rubles and you get other things from the west in dollars, pound and euro. The world is a no man's land, so no one can be mad forever or remain an island. Putin can't survive this for long, for as far as today's economics is concern a buyer always has the upper hand than the seller.

how does NK survive.

Since Russia is not self sufficient and will also need to transact with other countries for her needs, in what currency can Russia be able to achieve that?

teemy:


This might just be the beginning of the fall of the PetrolDollar. Saudi was recently talking about something similar. Higher demand for the rouble will increase the price and shave off some of the effects of the sanctions. More anti-west nations might follow suit.

Seems USA might take a big hit. That statement might as well be a declaration of war on the US. The next few days might be interesting.

There is also talk of Nigeria being the exchange house of the Yuan meaning African nations can buy Yuan to pay for their Chinese imports instead of paying in Dollars.

Was it not foolishness for world leaders to agree to peg the world's economy against a currency with no actual value? The error was bound to be corrected at some point. Let's see how it plays out. You have seen the armada of gas laden ships from USA going to Europe though?

frowland:


Nigeria don’t consume gas the way we use here in Europe. Gas runs inside our house like tap water. It powers my heater and hot water.
It runs steady 24/7 and you don’t expect loads of tankers queuing up in the gulf sea just to deliver gas every seconds.

Lies. I lived in England for 7 years

Same could be said for petrol consumption in Nigeria, yet tankers are not queuing up.

And you are also not smarter than the Qatari and German Government.

If Germany boycott their gas price will shoot up x4. Wahala u knw

Hezzyluv:
Walaii.... This man no just get sence. Prior to his invasion on Ukraine, a lot of people don't even know the unit of Russian currency.

Swallow your pride and allow peaceful negotiable approach to this your madness Because, as it stands you have put your country into retrogression economically

Just keep quiet if you don't understand what is being discussed, this exactly what Gaddafi and saddam were fighting for and the west kill them

MT:


You are missing the point. Imagine if roubles appreciate but Russia needs more dollars in their reserve to do many things which they are lacking now. It makes no sense.

International transactions are settled in dollars. Let me tell you if you don't know, when you have million of naira in your account and you pay for your air flight using your bank card. The payment is honoured because the airline knows that Nigeria has enough dollars in her reserve to settle on your behalf through the CBN. If you are a billionaire in Nigeria and there is little or no money (USD) in the country reserves, attempt to pay for flight, education abroad and anything foreign, your payment will be declined because you can't settle your bills in naira, it's CBN that must settle on your behalf in dollars from the reserve.

Russia is hurting badly, lack of access to dollars is a serious game changer

My brother, so many illiterates on this forum..
Please just enlight them a little oooooo.
They are just terrible

Great0ne1:

It appreciates because of demand. The same demand for use in purchasing oil gas, will make Europeans accept it. You get it ?

Roubles will appreciate but useless without the dollars. Russians need to procure products and services from the west but the roubles can't be converted to dollars. Russians can't get all they need within their economy.

Any gain from this move will be countered by the anticipated freeze on the Russia gold reserve being used to defend Roubles.

The West are the master of the game

Trentee4eva:

Europe cannot do without Russian gas at the moment. It's a good move for the Rubble

Are you on ground in Europe, how do you know they can't? More importantly, why is Nigeria not in the scramble to replace Russia gas? I no just understand this country.

gambojimeta:

Don't worry. It's a matter of time. Europeans are not Africans who are lazy thinkers

I am only upset that Nigeria is not even a player in the global industry to take advantage of this gas wealth.

Whatever happened to our NLNG plants.

Do u know how long it takes to build pipeline from where the gas is sighted in uae to Europe. Right now only russia has the pipeline infrastructure.

ken6488:
You know nothing about economics

Make your point or keep quiet.

gambojimeta:

Lies. I lived in England for 7 years

Same could be said for petrol consumption in Nigeria, yet tankers are not queuing up.

And you are also not smarter than the Qatari and German Government.

You surely lived in the gutter or getto if you spent that number of years in Europe without knowing that your heater at home is powered by gas.
Yes and you were there when Qatar told you they will deliver gas by tankers? You guys really need help. 7 years in UK my foot more like 7 days

AroleOduduwa2:
The Democrat will ruin this beautiful country. Americans have no clue what that means.
They have gotten a free ride since Bretton Woods.
Just wait till they can't use paper to buy real things.
And the rest of the world will not fund their budget deficits and military adventures.
The US$ falls, so does the empire

Historically, The Republicans always mess up the economy with their trickle down economics, then the Democrats always come back the restore the economy.

GardenOfGod:

Many countries in Europe will be scampering for alternative source of energy... Russian oil and gas will be abandoned in no distant time. Nigeria is just not yet woken up.

you can't abandon 35%, in some cases 50% of your energy supply. No one can replace that without sending the price to rocket high and insane creating scarcity

Dpharisee:
Germany has announced that their companies won't be leaving Russia and they have no alternative to Russian gas

OP STOP SPEWING NONSENSE HERE.

Qatar said it agreed to work on supplying Germany with liquefied natural gas as Europe’s biggest economy seeks to reduce its dependence on Russian energy.

https://www.bloomberg.com/news/articles/2022-03-20/germany-reaches-deal-to-buy-qatari-gas-in-pivot-from-russia

frowland:


You surely lived in the gutter or getto if you spent that number of years in Europe without knowing that your heater at home is powered by gas.
Yes and you were there when Qatar told you they will deliver gas by tankers. You guys really need help.

LMAO

I lived and worked as a professional with the Royal Bank of Scotland and returned to Nigeria to take up a job with a German investment firm

You are probably working as a cleaner wherever shit hole European country you live in

Like I earlier said, you don't know more than German and Qatari Government. You are just a no-one loudmouth nairalander

tolue42:


Germany already signed with Qatar on Sunday
For LPG.. Russia cannot win this war.
https://www.aljazeera.com/news/2022/3/20/germany-seals-gas-deal-with-qatar-to-reduce-dependence-on-russia

do u knw how expensive the price will rise. Russia have a direct pipeline down to Germany

lexyclasy:
some of you are as dead as Russian economy, so if the US, UK and EU nations decided to jettison their product completely who will loose, there's a larger market in south America, Canada, Asia/Middle east, authoritarian rulership of Putin is like a castle built on Sandy place., the Russian economist are warning him o, and he call the bluff, that's why the Russian central bank Governor resigns and other top economist yet he is defiant, we will know maybe Russians will drink gas and oil hahahah, ok IRAN who is an allied nation will patronize their oil/gas measurable to the portion the above mentioned nations would have purchased. funny man call Putin.

Well, the Russian rouble and Chinese yuan can also become a currency for international trade too, not just the dollar. Saudi Arabia on which the petrodollar is penned is thinking of also accepting the Russian rouble as a currency of trade. Countries are splitting and realigning.

naijapower:
This strategy will cause the Ruble to appreciate and ensure stability of the russia economy. As Germany, and other EU nations will have to source for Ruble to pay for gas.

Trading in Ruble has always been the desire of Putin and russia.

The reason why the US attack Iraq, Libya, Syria, etc was because they wanted to abandon the use of the dollar for trade.

Your analysis is wrong. Let's assume EU nations, the US, and other countries buying gas from Russia are sourcing for Russia's rubble to pay for Russian Gas. How will Russia pay for what it doesn't produce? Is rubble part of world's reserved currency? because you have to peg your foreign reserve/currency against another currency, that's economics.

somehow:


What a pity

Tell me you want to learn how international trade works but with humility and I will teach you for free since you don't even know how to do research on Google.

I humbly ask this time, pls analyze

MT:


You are missing the point. Imagine if roubles appreciate but Russia needs more dollars in their reserve to do many things which they are lacking now. It makes no sense.

International transactions are settled in dollars. Let me tell you if you don't know, when you have million of naira in your account and you pay for your air flight using your bank card. The payment is honoured because the airline knows that Nigeria has enough dollars in her reserve to settle on your behalf through the CBN. If you are a billionaire in Nigeria and there is little or no money (USD) in the country reserves, attempt to pay for flight, education abroad and anything foreign, your payment will be declined because you can't settle your bills in naira, it's CBN that must settle on your behalf in dollars from the reserve.

Russia is hurting badly, lack of access to dollars is a serious game changer

Dollar is going to be around for a very long time. It's likely going to outlast out current generation.

gambojimeta:

LMAO

I lived and worked as a professional with the Royal Bank of Scotland and returned to Nigeria to take up a job with a German investment firm

You are probably working as a cleaner wherever shit hole Europe you live in

So you worked as a professional and didn’t know that homes are gas powered? Tell me something new Lier!
I guess your heating system is powered by firewood?
Meaning you have never paid gas bill before? Then you might be all those illegals disturbing the peace here. Professional my bellend.
Well I might be a cleaner and okay with it! Have I begged you for food before?
Face of a 8 year professional in UK that didn’t know his home is gas powered.

MT:


Russia economy is in ruins. Putin admits it that sanction has decimated their economy. Focus on what happens after this war is over.Many European countries will wean themselves off Russia oil, more NATO presence in the Eastern flank of eu, sanctions will still remain to destroy the economy,
Russia was the 12th wealthiest nation before the war, I can bet they will pushed down the ladder. If they seek loan in the international market, they will pay very high interest rate cos their rating would have been affected when they default.

Russia has less leverage on the west than the other way round. US is the largest producer of oil in the world, Saudi even comes second.

U like many others think that russia produces nothing apart from oil and gas. U assume that russia does not produce consumer or industrial goods. Dats where u are wrong