Russia's decision to sell its gas only in rubles is more political than economic, economist at the University of Nicosia Marios Christou told CNA, stressing that in this way Russia is trying to challenge the omnipotence of the dollar, but also to collect rubles held abroad so as not to be exposed to attacks on the exchange rate of the Russian currency against foreign currencies.
At the same time, Christou stresses that Cyprus is in a phase of stagflation without yet being in a recession as it is technically defined, while underlining the "huge political and economic uncertainty" that exists due to the situation in Ukraine.
(CNA)
CNA - Kostas Stavrinos
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