Putin's war

And you believe the Queen is a lizard.

The gas supply contracts are contracts between Russian companies such as Gazprom and EU companies such as OMV, Uniper, E.ON. etc. .
The oil contracts are similar, but between different (European) companies
Until now, these contracts provided for payment in Euros, some in Dollars, and few to a lesser extent in pounds sterling and an infinitesimally small number in roubles.

What do you call the "petrodollar deal"?
And which contracts between which companies are involved?

The U.S. went off the gold standard in the early 70s, and tied the dollar to oil by striking a deal with the king of Saudi Arabia whereby the Saudis would sell their oil only in U.S. dollars in return for protecting their oil fields from potential enemies. By 1975, all of the members of OPEC (Organization of the Petroleum Exporting Countries) which included Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela, agreed to sell their oil in U.S. dollars only. As a result, every oil-importing nation in the world was forced to accumulate U.S. dollars in order to buy oil. This created a great demand for dollars, which meant that every oil-importing nation sought to sell their products to the U.S. to acquire the necessary dollars to purchase needed oil. This situation amounted to an oil tax applied to the world by the U.S.

Correct me where I'm wrong,

I don't think they appreciate that if something is priced in dollars it doesn't necessarily have to be paid in dollars.

Russia isn't in OPEC.

You gonna correct me where I was wrong about the petrodollar?

Of course you're not.

The global insurance industry has to cope with claims worth billions from aircraft leasing companies whose planes are stranded in Russia. In the worst case scenario, claims could be the highest in the history of aviation insurance.

The scale of the claims was revealed in Dublin on Wednesday, when the world's largest aircraft leasing company, Aercap, announced that its claims from aircraft not returned by Russian airlines amounted to almost $2.5 billion. In a conference call, Aercap's chief financial officer Peter Juhas also announced that the company had filed insurance claims totalling $3.5 billion last week. It is not unusual for companies to file claims that are higher than the current loss. After all, it has not yet been determined which of the insurers will pay and for how much.

The sum could be claimed by Aercap from insurance companies with which the company had taken out so-called all-risk policies against all risks. "We believe the full amount of 3.5 billion is justified," said Aercap CEO Aengus Kelly.

Financial Times:
Biggest jet leasing company lodges $3.5bn claim for aircraft stuck in Russia

Particularly affected is the London insurance market Lloyd's, which is considered the centre of global aviation insurance. However, Lloyd's is not alone; other companies have also assumed the risks. In addition, at least 30 per cent of the losses are likely to reach international reinsurers such as Munich Re, Swiss Re and Hannover Re.

Well, do you say that all legal information about those contracts between Russian and European companies are fake?

Even Russia said that it wanted to change the gas and oil contract currency from Euro (resp. Dollar resp Pound Sterling) to rouble.

Dude! Just tell me where you think I got it wrong.

Countries had to come with U.S. dollars to pay for oil. You don't know anything about this, do you?

I just did you muppet.

You claimed the petrodollar affected all oil payments, but according to your own source that only applies to OPEC members and Russia isn't in OPEC which is why the EU pays in Euros.

So much for Putin stuffing the petrodollar, it was stuffed long before that.

The gas and oil contracts e.g. are between German and Russian companies, and the currency paid is nearly 70% ... Euro.

Do you believe what I've said about countries having to pay for oil in U.S. dollars because of an agreement between the U.S. and OPEC countries?

Your post about the petrodollar was directed to Walter not me.

If you wanted me to answer it you should have asked me.

This is basic stuff. Most primary school kids know it.

I believe that you don't know the difference between countries and OPEC member countries.

The EU pays for most of its oil in Euros.

Fact.

Here you are calling Builder delusional for saying what I've said. So, what's your justification for believing that such an agreement was never made, or that it didn't put other countries at a disadvantage?

No. There are more petrocurrencies than the dollar, such as the Russian Ruble, Canadian Dollar, Euro, Pound Sterling and Norwegian Krone.

You are delusional if you believe all oil purchases are made in dollars.

I never said that the petrodollar agreement wasn't made.

You can't argue with what I'm saying so you make **** up

The petrodollar isn't the issue, the issue is that both you and Builder believe that non OPEC countries are bound by the agreement.

They're not, which is why the EU pays for its Russian oil and gas in Euros.

This afternoon, Putin has ordered Western countries to open accounts with Gazprombank with effect from 1 April in order to continue receiving Russian gas. Otherwise, deliveries for the "unfriendly" countries would be stopped, Putin said on Russian state television.
It was initially unclear whether the states themselves must already pay in roubles or whether a euro payment would be converted directly.

Germany gets about half its gas and a third of its oil from Russia, paid around 80% in euros.

After the agreement was made, anyone wanting oil from Saudi Arabia had to pay in U.S. dollars only. After a couple years more oil producers followed suit and accepted only U.S. dollars for their oil.

Agree so far?