Jakarta –
Russian President Vladimir Putin is increasingly serious about his revenge on countries included in the list of unfriendly countries. He ordered the experts to form a working team to realize his revenge.
Putin’s response was to ask hostile countries to pay for fuel purchases from Russia in Russian rubles. As quoted from Reuters, Tuesday (10/5/2022).
The requirement is to open an account at a private Russian bank, Gazprombank. So, countries whose payments are in euros and dollars can be converted to rubles.
Countries that do not comply with these rules will of course stop buying. That’s what happened to Poland and Bulgaria.
The working team referred to by Putin will later be asked to create infrastructure or international payment rules in rubles.
The requirements that will be made are also made for countries that are still friendly with Russia, for example China and India. It is not yet clear how the rules differ for the Russian version of friendly and hostile countries.
The working team was led by the Russian Presidential Advisor, Maxim Oreshkin, including high-ranking officials such as the Governor of the Russian Central Bank, Elvira Nabiullina. The move to the rules for payment in rubles is planned to reduce the risk of freezing nearly half of Russia’s $640 billion foreign exchange reserves.
The countries on Putin’s list of unfriendly countries include the United States, Canada, Britain, and member countries of the European Union.
To note, the revenge from Putin was the aftermath of the repeated sanctions imposed by western countries on Russia. The sanctions were given in response to Russia’s invasion of Ukraine.
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