Traditionally, the transactions are denominated in USD even if they do not involve a US counterpart. Since the Russian b

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answerhappygod
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Traditionally, the transactions are denominated in USD even if they do not involve a US counterpart. Since the Russian b

Post by answerhappygod »

Traditionally, the transactions are denominated in USD even if
they do not involve a US counterpart. Since the Russian banks are
forbidden to use SWIFT, you cannot pay or receive USD. How to solve
the problem?
a) After a few weeks of sanction, the Russian government
announced that for those rival nations, when they imported energy
from Russia, they must settle the transaction by using Rubble. What
kind of exchange rate risk hedging strategy did they use? Does it
work? And Why?
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