Polish MEP Ryszard Czarnecki put forward a proposal to restrict the Russian ruble’s convertibility.
"The Russian ruble should stop being a convertible currency, the ruble should be excluded from international financial turnover," Czarnecki said speaking at Poland's parliament. “When Visa and MasterCard refused to serve the customers of a Moscow bank, the effect was impressive," he added.
For reference, convertibility of a currency means that residents and non-residents of any country are free to buy and sell it. So in any case, such a restriction can be imposed solely by the central bank of this country. Thus, it remains unclear how Ryszard Czarnecki wants to implement his idea.
Czarnecki also proposed cutting supplies of Russian oil and gas by starting negotiations with exporters from Arab countries. He also offered to tighten control of Russian gas transit to Europe as well as Russia’s funding of projects in mining, defense, and high-tech sectors.
Such statements are predictable since Poland has become one of the countries the hardest hit by Russian retaliatory sanctions. On August 1, Russia imposed an import ban on Polish apples, pears, quince, apricots, cherries, peaches, nectarines, plums, sloes, cabbages, cauliflowers, and kohlrabi.
According to Central Statistical Office of Poland, the country sent over 1 billion euros worth of agricultural products to Russia annually.
