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Mar 30, 2022

Russia wants Europe to pay for gas in rubles. Why?

This week, the G7 nations rejected a demand from Russian President Vladimir Putin that they pay for Russian natural gas in the country’s own currency, which is the ruble. We look into what Putin’s reasoning could be, and what complications it could bring. The war in Ukraine is raising food prices, and the United Nations is warning that unless something changes, the world could be headed for the worst food crisis since World War II. The California committee on reparations for Black Americans is wading through the debate of who can actually get them.

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A Russian ruble coin is pictured with US dollar bills and a one dollar coin in Moscow, on March 15, 2022. - Russia has suspended the sale of foreign currencies until September 9, the central bank said in a statement, amid unprecedented economic sanctions on the country following its offensive in Ukraine. (Photo by AFP) (Photo by -/AFP via Getty Images)
A Russian ruble coin is pictured with US dollar bills and a one dollar coin in Moscow, on March 15, 2022. - Russia has suspended the sale of foreign currencies until September 9, the central bank said in a statement, amid unprecedented economic sanctions on the country following its offensive in Ukraine. (Photo by AFP) (Photo by -/AFP via Getty Images)

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Russia wants Europe to pay for gas in rubles. Why?