Russia could ask for rubles or gold in exchange for energy. If that occurred…
Tom welcomes Luke Gromen of Forest for the Trees back to the show.
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Luke explains the remaining options available to Russia and why the Chinese may benefit from the situation. We can’t sanction Russia’s energy because our own markets are so interconnected. Russia could ask for rubles or gold in exchange for energy. If that occurred Europe would have little choice. The real leverage in the Petrodollar system is on the ‘petro’ side. It will be interesting to see how this develops.