The embattled President, whose country is currently facing severe and vehement economic attacks from NATO allies has resorted to using it’s resources to keep afloat it’s economy.
In a move many are likening to a gambit queen play, President Vladimir Putin’s economic move to shore up the battered Ruble has reportedly sent many EU countries into state of frenzy.
President Vladimir Putin on Wednesday stated that his country would only accept payments in rubles for gas deliveries to “unfriendly countries” after Moscow was hit by unprecedented array of sanctions over its military operations in Ukraine.
Shortly after the announcement, Russia’s currency rebounded from three (3) weeks low where it traded 0.24 Rubles to 1 Naira. The Russian Ruble now trades at 1 Ruble to N3.1660 as at 08:56am Nigerian time.
Speaking about the new development, the Russian President said –
While Poland has said it cannot pay for its Russian gas in Rubles, Germany has called such unilateral move as breach of contract. This comes as a little awkward and hypocritical seeing as the Germans were among the group of countries that has ensured and made it impossible for Russia to trade or trust in dollar and Euro currency.