Banking expert Amer Shahda said that benefiting from the Russian decision to adopt the ruble for gas payments to Europe requires wise Syrian financial and monetary management.
Shahda added that the decision to convert gas supplies payments towards Europe into the ruble currency as soon as possible has a significant impact on international trade, dollar and euro prices, and oil futures contracts, and positively affects prices and the purchasing power of the Syrian pound.
He indicated that most of the Syrian contracts signed with Russia are barter contracts that are not subject to a specific payment system, and sometimes payments are made in dollars for some deals, but it is easier to secure the ruble.
Shahda called for the necessity of expediting the conclusion of a payments agreement with Russia in the field of intra-trade, and the establishment of a Syrian-Russian clearing house through which currencies can be exchanged, because Russia will no longer rely on the “Swift system” in its transfers after being taken out of it.
Shahda directed a question to those concerned about economic and monetary policies, saying: What are you waiting for? Russian President Vladimir Putin said explicitly that he canceled transactions in dollars and that Russia wants to charge the value of its gas exports in rubles, so should we keep busy with the prices of bulgur, and how can we lie about news that we do not like? How will we open the door for traders to import soy?!
Shahda added that action must be taken. Should we wait for Russia to invite our economic team to take advantage of this opportunity?
We must learn to seize opportunities, as our government says that we have promising and great investment opportunities in all fields, so why not go to the sanctioned Russian investors, and offer them facilities and guarantees to work in our country?
He cited the situation of India, which concluded a deal to import 3 million barrels of oil from Russia in the Indian currency, in exchange for discounts ranging between 20-25%.
Hashtag – Basem Mohamed
To receive notification of the most important news and urgent matters, join our telegram channel through the link