Thursday, March 31, 2022
European Energy Crisis
Putin signed an order today that all foreign payments for Russian energy must be made in rubles from accounts opened with Russian banks. To European outrage that the payment regimen is contrary to contracts already signed Putin said in a nationwide address simply, “that is, existing contracts will be stopped.” π I’m sorry but I do find this humorous. The new payment regimen goes into effect tomorrow. If payment is not made in rubles the energy will not be delivered. One-third if Europe’s energy comes from Russia.