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I heard the Vatican was the first domino to fall.

Russia no longer has to worry about having its money stolen by Biden and banksters! Putin's move is brilliant, but I do not see how it will destroy petrodollar with it. It is simply a self-preservation scheme in face of the expected sanctions move by Vladimir Vladimirovich!

Russian President Vladimir Putin’s presidential decree on new payment terms for energy products, predictably, was misunderstood by the collective west. The Russian government is not exactly demanding straightforward payment for gas in rubles. What Moscow wants is to be paid at Gazprombank in Russia, in its currency of choice dollars or Euro, and not at a Gazprom account in any banking institution in western capitals.

That’s the essence of less-is-more sophistication. Gazprombank will sell the foreign currency – dollars or euros – deposited by their customers on the Moscow Stock Exchange and credit it to different accounts in rubles within Gazprombank.

What this means in practice is that foreign currency should be sent directly to Russia, and not accumulated in a foreign bank – where it can easily be held hostage, or frozen, for that matter.

The Russians are saying buy our gas with your euros but what they mean is deposit euros in a Russian bank account and then we'll trade those euros on the open market in Russia for rubles and use those rubles for your gas bill. Euros are still being traded for rubles before anything is purchased. So now that this is being done by a Russian bank they get all the fees for the trades and the ruble is still being supported on the open market by the purchase of gas. The only difference is that Russia now gets the currency exchange fees. This is handwaving but it doesn't change anything from what Putin said originally except give the Russians the exchange fees.

It is said there is no change for the purchaser. They paid in euro, dollars before - and will with NEW contracts. Existing ones honored.
They have 15 days to make payment details - ie open Russian bank accounts.
So how does it work in reality ?

My guess - for illustrative purposes.

BEFORE the buyer agrees a volume and dollar price per unit for a year. Payment for deliveries are made to Gazprom monthly based on actual delivery, which varies by season. 60% of imports are paid in euros, and the rest in dollars.
The dollar or euro is worth maybe 10% less at years end.

AFTER the buyer gives dollars, euros to the Russian bank. The Central Bank gives roubles to Gazprom at the gold backed 3 month rate., The CB can use the euros, dollars to buy gold because it is half price ( kept down by paper gold manipulation).

The official explanation is below.
https://news.yahoo.com/explainer-paying-natural-gas-rubles-123131080.html

How does this work?
Wouldn't the Russian gas have to flow through pipelines in unfriendly nations to Russia?

Slovak Economy Minister Richard Sulik will soon reverse course with another public statement coming out against Russia due to bribery or blackmail or both....

Wait and see,

Any currency exchanged into Russian Ruble, for any reason, be it for crude oil or sunflower oil, will give strength to the Ruble, which is exactly what the sanctions imposed on the Russian government were not intended to do.

There will be more dominoes that will come after this one. The death knell for the dollar is ringing louder and louder.

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You mess with the bear, you get the horns.
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