For some odd reason, the biggest bank in Russia (Gazprom) isn't subject to the sanctions. Germany gives Euros to the Gazprom Bank,..the bank converts them to Rubles and gives the Rubles to Russia in exchange for natural gas going to Germany.
Net result,...Germany is buying its gas with Rubles but gets to claim that they're paying with Euros.
Basically, the Gazprom Bank is handling the sale of Rubles for Euros for Germany.
Wow.
Next thing you are going to learn is that the World is not a simple place and simple people are often confused.
I, for one, can't wait.
John Burns shows up in a thread with “brokeback” in the title…. Who’d have guessed! “I wish I knew how to quit you Kyle!”
