Macro advisory in moscow. He said the situation for the russian currency is unique. You should not be looking at it in the same way as if there was a slide in a normally functioning economy or a european economy. The rouble is entirely managed now by the central bank in conjunction with the Finance Ministry, and has been since we last saw the rouble collapse down to about 130 in march of last year. So the Central Banks priority last year was to keep the Rouble Exchange rate high at around 60, because it was tackling inflation, but this year, because of the sanctions impact and because that has led to a big hit on the value of russias oil exports in particular, they have devalued the rouble in order to compensate for that fall in dollar terms. In other words, weaker rouble translating dollars into a higher rouble amount to balance the budget. Thats been the priority this year. It doesnt reflect an imminent crisis. Sort of a broad collapse in the economy. Its the result of the central Ba
The International Energy agency has revealed that lng now makes up 35 of europes energy supplies, not far off the 40 contribution that russia made before it was sanctioned over ukraine. Joining me now is ben mcwilliams, whos an Affiliate Fellow at bruegel. Thank you very much for being with us today. What are your concerns about where gas prices could go if these workers do indeed strike . This is certainly a concern, but to be clear up front, nothing comparable to last year. The position we are in is that, as you mentioned, as russian Pipeline Supplies have been cut over the last 12 months, the eu and uk have become more dependent on liquefied national gas. Natural gas. Australia typically supplies asia. If it were cut to asian consumers, we would see asian consumers turning around and looking to qatar and competing with european buyers there, which would in turn have some Knock On Effect on prices. As it had last week, 40 increase from around 30 to 36 euros just nothing like close to
I get to work here. And itjust makes me like show up more. You feel happy being in this space. I can see that. And im actually quite. When i cook, im quite manic about cleaning up as i go along, unlike my husband, who leaves a sort of minor nuclear disaster. Thats me iam. How can you cook like that . A total disaster. And then ijust Throw Everything in the sink and its a big pile of dishes. And then wejust. We work our way through it. By the way, you have so many cookbooks. I have a few. Out of the corner of my eye. I collect cookbooks, but nothing like on the scale that you do. Im obsessive. Can we have a peek . Can we have a look . Come on. I love that. This is my collection of things that i use almost all the time. If im looking for. Like, what would a good french bavette, like a flank steak be . Ill just start looking in french cookbooks and just say, oh, thats interesting. Julia child would do this and Patricia Wells would do that, and just kind of collect information for myself a