You Will Pay in Rubles! No?

by Karl Denninger

Good luck Europe.

BERLIN — The Group of Seven major economies have agreed to reject Moscow’s demand to pay for Russian natural gas exports in rubles, the German energy minister said Monday.

Robert Habeck told reporters that “all G-7 ministers agreed completely that this (would be) a one-sided and clear breach of the existing contracts.” He said officials from France, Germany, Italy, Japan, the United States, the United Kingdom and Canada met Friday to coordinate their position and that European Union representatives also were present.

So what?

It was also a breach of “contract” to seize property and money of both Russia and private citizens who happen to be Russian, the latter in particular being done without evidence presented that a crime has been committed for which such a forfeit is reasonably tied to the alleged crime.

I get it that nation states often think of contracts and private property rights as “quaint”, say much less a basic right to life. After all war, by its nature, vitiates all such claimed pleasantries.

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