MOSCOW, 13 Oct – PRIME. The transition to payments for gas in rubles within the framework of the Eurasian Economic Union (EAEU) may become an important precedent in terms of continuing the transition of payments for energy resources to alternative currencies to the dollar, said Dmitry Kulikov, director of ACRA’s group of sovereign and regional ratings, to RIA Novosti.
Almost all EAEU countries have agreed to switch to paying for gas in rubles, Kazakhstan can join paying in national currencies, Arzybek Kozhoshev, Minister of Energy and Infrastructure of the Eurasian Economic Commission, told the agency earlier on Thursday.
“The precedent is important – the very fact of continuing the transition of payments for energy resources to currencies alternative to the dollar in relations with many countries,” Kulikov is sure.
“This process, provided that it continues, may eventually change the ways of circulation of rubles, change the volume of the ruble money supply,” he continued.
At the same time, there may not be an impact on the ruble exchange rate, it rather depends on the accompanying processes, in particular, on how strong the barriers to cross-border capital flows will be in countries with which Russia trades in rubles, the analyst concluded.