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Reason: None provided.

This could be interesting, if true and not temporary. That was one of untoucheable thing all way long for Russia - never use Russian Rouble for any international payments. Even payments between Russia and Belarus always was through USD/EUR.

However, Russia Central Bank does not obey to Putin or anybody else in Russia, it is private business with undisclosed owners and by the law it submit only to IMF.

It could be only a fictional lever to push the West via IMF to unlock international payments, nothing more. But if that will be for real, if the West will be allowed to buy Russian resources only for roubles, i.e. Western banks will have to make international transactions in roubles, will have to create rouble accounts for Western companies and other stuff - it could be a serious game-changer.

PS: There could be a trick with that rouble payments. Russian government could create special "international rouble", different from regular russian currency not accessible for ordinary people, just like the USSR had special "cheques" with nominal in roubles that could be used for abroad trade, but that "cheques" was different from USSR money and you could be jailed if attempted to exchange roubles to that another roubles. There even was special shops "Beryozka" that sell Western goods for that "cheques". "Cheques" was used as a foreing currency replacement for diplomats, sailors and others who work abroad of USSR and returning back with not spended foreing currency.

2 years ago
1 score
Reason: Original

This could be interesting, if true and not temporary. That was one of untoucheable thing all way long for Russia - never use Russian Rouble for any international payments. Even payments between Russia and Belarus always was through USD/EUR.

However, Russia Central Bank does not obey to Putin or anybody else in Russia, it is private business with undisclosed owners and by the law it submit only to IMF.

It could be only a fictional lever to push the West via IMF to unlock international payments, nothing more. But if that will be for real, if the West will be allowed to buy Russian resources only for roubles, i.e. Western banks will have to make international transactions in roubles, will have to create rouble accounts for Western companies and other stuff - it could be a serious game-changer.

2 years ago
1 score