https://kingworldnews.com/gold-short-squeeze-will-russia-demand-payment-for-nat-gas-oil-in-gold/
Will Russia Demand Payment For Nat Gas & Oil In Gold?
Alasdair Macleod: Sanctions preventing Russia spending $.€,£ etc. renders them as RCB reserves valueless. Therefore there is no point in RCB holding them. Yuan are OK because of China partnership. Otherwise, only reserve asset of any value is gold.
Russia doesn’t need $,€,£ etc. because she has high export surpluses and domestic economy is stable. Income tax is flat 13%, business regulation is light and govt debt to GDP is under 25%. There is no point in selling nat gas and oil for currency which cannot be spent.
Therefore, Russia has little option but to demand payment for nat gas and oil in gold. It would allow her to replace useless currency reserves, and to back rouble currency expansion to meet public deposit withdrawals. It has been forced on Russia by stupid Western sanctions!
https://kingworldnews.com/gold-short-squeeze-will-russia-demand-payment-for-nat-gas-oil-in-gold/