Russian President Vladimir Putin fires back at the West.Yesterday on a televised address, Putin issued an ultimatum for it’s partners purchasing Oil and Gas especially those he termed as ‘unfriendly’ specifically the EU and others to make payments in Ruble in Russian banks.
This came after several crippling economic sections was levied on Russia by United States of America, European Union and Australia as retaliation to Russia’s intervention in Ukraine in March 2022.
President Vladimir added that if Russia can’t purchase anything then others shouldn’t too. A certain percentage of economists and political analysts did see this coming however Russia still remains one of the highest suppliers of oil and gas globally.
The EU is expected to react to this whether they will push through and continue business or opt for an alternative. Well, will India get caught in the middle given the fact that they have been enjoying cheaper prices on Russian products?
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