For Sylvie Matelly, “Vladimir Putin is trying at all costs to protect the value of the ruble” by demanding payment for gas in Russian currency
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Vladimir Poutine “succeeds because the value of the ruble goes up”, estimates Friday April 1 on franceinfo Sylvie Matelly, economist and deputy director of the Institute of international and strategic relations (Iris). The Russian head of state threatens “unfriendly” countries to stop their gas supply if they do not pay for their imports in rubles, and no longer in euros.
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“Vladimir Poutine tries at all costs to protect the value of the ruble, analysis Sylvie Matelly, because the Russian consumer is very dependent on his final consumption imports and the value of the ruble also determines the price at which he will pay for his consumption”.
With his ultimatum issued by Russia on gas purchases, Vladimir Putin “takes a risk in the long term, it’s that Europeans gradually reduce their dependence on gas”says the economist. Fossil fuel export earnings are “very important” for Russia, recalls Sylvie Matelly. They represent “36 to 37% of the Russian state budget”according to the deputy director of Iris.
“Beyond the economic or financial consequences, the approach is symbolic. We are in a logic for Putin to push the Europeans to circumvent their own sanctions”believes the economist.