After sanctions and refusing ruble-payments – How to deal with a Russian cut-off? | DW News

The European Commission plans to impose an ‘orderly’ finish to its imports of Russian oil as a part of 6th spherical of sanctions on Russia.

Commission President Ursula von der Leyen saying Wednesday the EU would section out deliveries of Russian Crude and Oil Products out through 12 months’s finish. It additionally desires to step up sanctions at the monetary sector, disconnecting Russia’s largest financial institution “Sber-bank” from the SWIFT cost machine. The proposed measures will want approval from all 27 member states. Hungary and Slovakia have already mentioned they will search exemptions.

Europe and Russia also are sparring over gasoline imports: Moscow continues to call for that European firms pay in rubles as a substitute of the euros and bucks known as for in contracts. It’s bring to a halt two nations — Bulgaria and Poland — for refusing to make ruble-payments. Neighboring nations are actually coming to their help. DW’s Jack Parrock visited the Bulgarian capital of Sofia.


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38 thoughts on “After sanctions and refusing ruble-payments – How to deal with a Russian cut-off? | DW News”

  1. West Don,t try middle line to stop war and peace leader want own people to more suffering,ukraine gone deserted,peoples displaced,killing,they Don,t say to zelesky and putin stop war and come table what is issue because they they have bible read opposite,if you peace and to find peace no weapon need.

  2. When half the world agrees with the deaths in Ukraine then I think we are fighting a losing battle. Such a sad situation in a world that declares it wants peace. I have no doubt that more wars will follow after this one and yes they will be wrong as well the same will happen all over again. Just different players.

  3. EU should wake UP and stop being America lapdog.. America is at war against the EU, Russia, China and India. America wants to see EU countries starve on many sectors. EU would get better protection, become stronger, prosperity and peace , the EU should join up with China and Russia.

  4. Impact of sanctions on the Russian economy:

    1. Economic growth for the first quarter of this year amounted to 3.7%. At the same time, if we take industry separately, it grew by 5.9% over the quarter, and in March, compared to February, the growth in industry amounted to 9.9%.

    2. Unemployment remains at a historically low level and is not going to rise – 4.1%

    3. Suddenly, budget revenues increased by a third (30.4%), which caused a budget surplus of 2,417 billion rubles, which is 3.6 times more than last year's surplus. And that's for the quarter.

    4. Inflation has been declining for several weeks in a row. Gasoline prices began to decline in March and continued into April. Inflation is declining because Russia has stopped its imports, today prices are slowly untied from world prices.

    The impact of sanctions on the economy of Germany and the EU:

    1. The volume of imports from Russia to Germany, expressed in financial terms, rose to historical records. And we are not talking about energy supplies, but about other types of goods. This is written by the German edition of Die Welt. The Federal Statistical Office of Germany reports that the turnover with the Russian Federation in March alone amounted to more than 3.6 billion euros (in 2014 it was 3.5 billion), which is 44% more than last year.

    2. Europeans began to suffer from the closure of the Russian skies in response to the closure of the European skies for Russian companies. Because of this, German Chancellor Olaf Scholz recently had to fly to Japan via the North Pole, with refueling in Alaska. The total lengthening of the flight in one direction was an hour and a half. But this is for the chancellor, and for ordinary people, the delay compared to the normal route through Russia and China can be much longer. In addition, flying over the pole is more dangerous than flying over populated areas. There is nowhere to make an emergency landing and refuel, so the preparation of cars and pilots requires increased attention.

    3. European Union airlines have been hit hard by sanctions against Russia. This is stated in the draft resolution of the European Parliament (EP). As noted in the draft, the aviation sector is faced with rising costs, rerouting and flight cancellations. The document states that the increase in the route for flying around the airspace of the Russian Federation and Belarus takes up to four hours one way, which leads to problems with refueling and an increase in the working day of the crew. The EP also drew attention to possible interruptions in the supply of titanium used in the construction of aircraft in the near future, the main producers of which are Russia and Ukraine.

    4. Germany is experiencing an inflationary shock in the food retail sector. This is stated in an article in the German newspaper Handelsblatt. The publication recalled that food prices rose by more than 6 percent in March. At the same time, the cost of fresh vegetables increased by more than 14 percent, and vegetable oil – by 17 percent. The consumer climate in Germany is deteriorating. According to the GfK forecast, the consumer climate index will decrease by 26.5 points. This is the lowest value for all time of measurements. Company expert Robert Kechkes explained that consumer budgets have shrunk due to overall rising costs. The reason for this was the strong uncertainty of the Germans, he added. Earlier, the country's Federal Statistical Office (Destatis) reported that annual inflation in April 2022 in Germany will accelerate to 7.4 percent, which is a record for many years.

    5. Consumer prices in the euro area in April rose by 7.5 percent in annual terms, according to preliminary data from the Statistical Office of the European Union. This is an absolute record in the history of calculations. Inflation has accelerated, in March it was 7.4 percent. Inflation exceeds the target of the European Central Bank (set at two percent) by more than three times. This trend is associated primarily with the rise in energy prices, despite the fact that the growth rate slowed down to 38 percent (compared to 44.4 percent in March). The lowest inflation rates over the past 12 months were recorded in Malta (4.5 percent), France (5.1 percent) and Portugal (5.5 percent), the highest in Lithuania (15.6 percent), Estonia (14 .8 percent) and the Czech Republic (11.9 percent).

    6. After the imposition of sanctions against the subsidiary of the Russian holding Novatek, Novatek Green Energy in Poland, the supply of blue fuel to dozens of municipalities was stopped. In Bulgaria, the cost of gas due to the cessation of supplies from the Russian Federation increased by 50%.

    7. The euro crashed to the lows of early 2020, before the lockdown.

    Impact of sanctions on the US economy:

    1. The US economy contracted in the first quarter of 2022 by 1.4 percent year on year.

    2. The US trade deficit in March amounted to $109.8 billion against 89.8 billion a month ago. The pace of deficit expansion is unprecedented.

    The West poured all military surpluses onto Ukraine, and also took on the maintenance of the Ukrainian economy in the amount of 5-7 billion dollars a month.

    Inside the countries that support anti-Russian measures, political problems are intensifying due to rising world prices.

  5. I wonder when are the real sanctions begin? For now the West is hurting themselves. Ty for the 66,50 ruble and 0.32L gas price 😀

  6. The German Marxist Party, I mean the German Green Party is responsible for all of this. And obviously they don't believe their own climate change predictions otherwise they wouldn't have fought to ban nuclear. Oy gevalt.

  7. What no one knows is that these companies in Europe are buying an paying for Russian oil in rubles they just aren't announcing it in western media.. they have no choice but to do so.

  8. Can you imagine what would happen to Ruble if Azov battalion is bombing the pipeline gas infrastructure to the West by using Javeline/Javelina missiles sent to Ukraine?

  9. Is the spigot turned off yet for unfriendly EU countries? Putin is telling that countries who resell the products to bypass the system will get sanctioned much like what the US did.

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