Take Care of the Ruble and Gas Will Take Care of Itself

... USD 9 bn paid into the Fund in Russian rubles). Therefore, importers of Russian gas may well legally use a specially designed IMF mechanism to gain access to ruble liquidity to pay for Russian gas deliveries. It would be expedient to make payments for gas in rubles at the current market exchange rate, with account for Russian gas prices linked to the spot market. That would bolster the ruble’s exchange rate, an important indicator of an economic rebound. Let’s not forget that the ruble was the world’s ...