{"id":1415656,"date":"2022-04-01T22:29:57","date_gmt":"2022-04-02T02:29:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1415656"},"modified":"2022-04-01T22:30:00","modified_gmt":"2022-04-02T02:30:00","slug":"collapsing-nigeria-mulls-trade-deals-with-russia-in-rubles","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/collapsing-nigeria-mulls-trade-deals-with-russia-in-rubles\/","title":{"rendered":"Collapsing Nigeria Mulls Trade Deals with Russia in Rubles"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcollapsing-nigeria-mulls-trade-deals-with-russia-in-rubles%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1415656&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">Nigeria will consider conducting trade with Russia in national currencies, i.e., in Russian rubles, \u201cif necessary,\u201d Nigerian Ambassador to Moscow Abdullahi Shehu <a href=\"https:\/\/sputniknews.com\/20220331\/nigeria-ready-to-eye-possibility-of-trade-with-russia-in-national-currencies-ambassador-says-1094352665.html\">told<\/a> Russia\u2019s state-owned Sputnik news agency on Thursday.<\/p>\n<p>Asked by Sputnik on March 31 about \u201cthe possibility of turning the trade between Russia and Nigeria into ruble[s],\u201d Ambassador Shehu stated, \u201cIt depends. \u2026 The financial experts will work out the modality of how that will be done. \u2026 We will wait and see. We welcome them [negotiations on trading in rubles], we will negotiate.\u201d<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Shehu referred to Moscow\u2019s request on March 23 that certain nations <a href=\"https:\/\/www.reuters.com\/business\/energy\/putin-says-russia-will-start-selling-gas-unfriendly-countries-roubles-2022-03-23\/\">pay<\/a> for Russian gas in rubles instead of in foreign currencies such as euros or dollars. The Kremlin made the request specifically of countries that have <a href=\"https:\/\/graphics.reuters.com\/UKRAINE-CRISIS\/SANCTIONS\/byvrjenzmve\/\">imposed<\/a> financial sanctions on Russia since February 24 in retaliation for its <a href=\"https:\/\/tass.com\/politics\/1409329\">launching<\/a> of a war in Ukraine earlier that same day.<\/p>\n<p>Kremlin spokesman Dmitry Peskov <a href=\"https:\/\/www.cnbc.com\/2022\/03\/31\/europe-energy-russia-appears-to-soften-its-gas-for-rubles-demand.html\">clarified<\/a> on March 30 that Moscow \u201cwould not be seeking gas payments in rubles immediately, saying instead that this switch is likely to be a \u2018gradual process,&#8217;\u201d CNBC reported.<\/p>\n<p>Sputnik asked Ambassador Shehu on March 30 about his thoughts on Russia potentially being paid for its gas in rubles.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Shehu said the change \u201cis dictated by Russia\u2019s national policy, and no one has the right to challenge it.\u201d<\/p>\n<p>\u201c[T]he rejection of the dollar and the euro in the future can strengthen the ruble and make it a freely convertible currency,\u201d Sputnik further paraphrased the ambassador as saying.<\/p>\n<p>On Thursday, Shehu also expressed his government\u2019s interest in selling increased gasoline stores from Nigeria, Africa\u2019s largest crude oil producer, to outside markets such as Russia and Europe.<\/p>\n<div id=\"attachment_20485397\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/media.breitbart.com\/media\/2022\/03\/Fuel-tankers-nigeria-ap.jpg\"><\/a><\/p>\n<p class=\"wp-caption-text\">Fuel tankers are parked near an oil terminal in Lagos, Nigeria (AP Photo\/Sunday Alamba).<\/p>\n<\/div>\n<p>\u201cWhen asked about prospects for EU [European Union] countries to find a replacement for gas from Russia, Shehu said that Nigeria is ready to sell its gas to any countries where there will be a demand for it,\u201d Sputnik relayed.<\/p>\n<p>\u201cHe [Shehu] added that the extraction of mineral resources is one of the areas where Nigeria and Russia can enhance their cooperation, emphasizing that apart from oil and gas, Nigeria has also coal, bauxite, columbite, and iron ore natural reserves,\u201d according to the Russian state media outlet.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>Abuja\u2019s offer on Thursday to provide extra supplies of Nigerian gasoline to foreign markets seems dubious given recent reports Nigeria\u2019s government has failed to secure a sufficient flow of oil and gas to its domestic population. Nigeria\u2019s government has severely <a href=\"https:\/\/www.breitbart.com\/africa\/2022\/03\/25\/nigerians-suffer-oil-spill-health-woes-while-fuel-shortages-leave-gas-pumps-empty\/\">mismanaged<\/a> the nation\u2019s naturally abundant source of crude oil, <a href=\"https:\/\/www.breitbart.com\/africa\/2022\/03\/17\/nigeria-president-apologizes-as-opec-country-runs-out-of-gas-electricity\/\">resulting<\/a> in paradoxical fuel shortages in recent weeks.<\/p>\n<p>Nigeria\u2019s latest fuel shortage is especially alarming considering the nation is a member of OPEC, the Organization of the Petroleum Exporting Countries. Nigeria experienced a related collapse of its state power grid in mid-February that caused blackouts nationwide.<\/p>\n<p>\u201cNigerians have been experiencing power cuts for weeks amid a surge in fuel and diesel prices,\u201d Nigeria\u2019s TheCable news website <a href=\"https:\/\/www.thecable.ng\/explainer-what-is-national-grid-collapse#:~:text=OVER%20200%20GRID%20COLLAPSE%20RECORDED,collapses%20between%202010%20and%202019.\">reported<\/a> on February 14.<\/p>\n<p>The news outlet revealed that Nigeria\u2019s state power grid is infamous within the country for its repeated failures.<\/p>\n<p>Detailing previous electricity outages, TheCable recalled:<\/p>\n<blockquote>\n<p>Nigeria\u2019s national grid is known for experiencing disruptions. It collapsed in February, May, July, and August 2021.<\/p>\n<p>TheCable had reported that the grid experienced 206 collapses between 2010 and 2019.<\/p>\n<p>A breakdown of the data showed that Nigeria witnessed 146 total collapses of the national grid and 73 partial collapses between the period.<\/p>\n<\/blockquote>\n<p>Nigeria\u2019s energy woes serve to compound its general insecurity, which has seemingly grown worse in recent weeks. The West African nation <a href=\"https:\/\/www.breitbart.com\/tag\/nigeria\/\">experienced<\/a> a spate of terror incidents across the states of Niger, Kaduna, and the national capital region of Abuja from March 26 to March 28. The deadly attacks included the targeting of the major Abuja-Kaduna rail line (March 28); an attack on a Christian village in Niger state, including the local priest (March 27); and an attack on the Kaduna airport (March 26).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria will consider conducting trade with Russia in national currencies, i.e., in Russian rubles, \u201cif necessary,\u201d Nigerian Ambassador to Moscow Abdullahi Shehu told Russia\u2019s state-owned Sputnik news agency on Thursday.<\/p>\n","protected":false},"author":37,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1415656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1415656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1415656"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1415656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1415656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1415656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1415656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}