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Ruble rises to 2015 level against euro as EU prepares to pay for gas
Wonderful sanctions you got there, Boys and Girls.
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Friday, May 20, 2022
The Russian ruble today rallied to its strongest levels against the euro and dollar since June 2015 and March 2018 respectively, which analysts attributed to EU countries preparing to pay Russia for gas and to capital controls imposed by Moscow.
Russia said Thursday that half of gas giant Gazprom's 54 clients have opened accounts at Gazprombank, as European companies approach imminent deadlines to pay for their gas supplies.
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Opening such accounts became possible after EU executives allowed member states to keep buying Russian gas without breaching the slew of sanctions they have collectively imposed on Russia over what Moscow calls its "special military operation" in Ukraine that started on Feb. 24. ...
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