But that said, Russian energy giant Gazprom on Saturday turned off all liquified natural gas (LNG) flows to Germany and other EU nations, sending it in the opposite direction to other buyers — a decision that is going to cause major havoc in the continent’s richest country and cause ripple effects throughout Europe.
Already gas prices in Europe have skyrocketed 30 percent since March 30, which comes as the ruble has risen in value to a three-week high past 95 against the U.S. dollar on the Moscow Stock Exchange reopened following the initial round of sanctions.
Zevalny has also hinted that buyers who are more friendly to Russia, such as India and China, could use their own fiat currencies or Bitcoin to make energy purchases.