Analysis on the Impact of the Use of Ruble Settlement for Russian-European Energy Trade

DOI

10.2991/978-94-6463-441-9_65How to use a DOI?

Keywords

Energy Trade; Ruble Settlement; Trade Settlement; Financial Sanctions

Abstract

Nowadays, with the rapid development of the global economy, the energy issue has attracted the attention of all countries in the world. Russia, as one of the energy producing countries, has long considered European countries as the main energy trade objects, which makes energy trade a central issue in the process of establishing diplomatic relations between European countries and Russia. Since the collapse of the Soviet Union, Russian-European energy trade has gradually developed, and over time, the two sides have formed a known stable and efficient energy development relationship based on the level of their respective interests. However, after the outbreak of the crisis in Ukraine, the United States and the European Union jointly imposed sanctions on the Russian economy, which not only led to the devaluation of the ruble, but also made the development of Russian-European energy relations difficult and complicated, in this case, Russia needs to be alert to the many risks that may arise during the settlement of energy trade in rubles. In the face of the crisis, Russia and Europe need to actively adjust their energy strategies to ensure smooth energy trade using ruble settlement.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Yuxin Xia
PY  - 2024
DA  - 2024/06/21
TI  - Analysis on the Impact of the Use of Ruble Settlement for Russian-European Energy Trade
BT  - Proceedings of the 2023 International Conference on Economic Management，Financial Innovation and Public Service (EMFIPS 2023)
PB  - Atlantis Press
SP  - 772
EP  - 780
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-441-9_65
DO  - 10.2991/978-94-6463-441-9_65
ID  - Xia2024
ER  -