Germany buys 40% of its gas from Russia, via the Nord Stream 1 pipeline. These contracts are in euros and dollars, yet Russia is now demanding payment in Roubles. Germany has declined and warned that there may be shortages and rationing of gas.
Can the Russians force Germany to change currency payments, or will they close the supply pipeline?
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Professor Richard Wolff joined Thom to discuss the Russian oil dilemma facing Germany.
Bio: Professor Wolff is an Economist / Co-founder, Democracy At Work / Author of numerous books – his latest is The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself (also available as an eBook)
Website: www.democracyatwork.info / www.rdwolff.com
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