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Ruble Climbs 10% on Russia’s Demand to Pay for Gas in Its Currency

On Wednesday, Russia’s ruble shot up against the US dollar after Russian President Vladimir Putin said he would require countries imposing war-time sanctions against Russia to pay for Russian gas in rubles.

The ruble surged 10%, trading above 101 against the US dollar. If Putin’s demand comes into force, European gas importers would need to buy hundreds of millions of euros’ worth of rubles each day to pay for gas deliveries.

European gas prices spiked 20% on the news. Will they increase more?
Will European Gas Prices Go Higher?

Will European Gas Prices Go Higher?
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** Disclaimer: The above content is an informational and educational piece only. It is not investment advice.

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