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Thread: Russia Holds "De-Dollarization Meeting": China, Iran Willing Drop USD Bilateral Trade

  1. #1

    Default Russia Holds "De-Dollarization Meeting": China, Iran Willing Drop USD Bilateral Trade

    ZH (in addition to other news outlets)
    According to the Prime news agency, on April 24th the government organized a special meeting dedicated to finding a solution for getting rid of the US dollar in Russian export operations. Top level experts from the energy sector, banks and governmental agencies were summoned and a number of measures were proposed as a response for American sanctions against Russia.

    Well, if the west wanted Russia's response to ever escalating sanctions against the country, it is about to get it.
    The "de-dollarization meeting” was chaired by First Deputy Prime Minister of the Russian Federation Igor Shuvalov, proving that Moscow is very serious in its intention to stop using the dollar. A subsequent meeting was chaired by Deputy Finance Minister Alexey Moiseev who later told the Rossia 24 channel that "the amount of ruble-denominated contracts will be increased”, adding that none of the polled experts and bank representatives found any problems with the government's plan to increase the share of ruble payments.
    in the Russian interview...

    It is interesting that in his interview, Moiseev mentioned a legal mechanism that can be described as "currency switch executive order”, telling that the government has the legal power to force Russian companies to trade a percentage of certain goods in rubles. Referring to the case when this level may be set to 100%, the Russian official said that "it's an extreme option and it is hard for me to tell right now how the government will use these powers".
    Of course, the success of Moscow's campaign to switch its trading to rubles or other regional currencies will depend on the willingness of its trading partners to get rid of the dollar. Sources cited by Politonline.ru mentioned two countries who would be willing to support Russia: Iran and China. Given that Vladimir Putin will visit Beijing on May 20, it can be speculated that the gas and oil contracts that are going to be signed between Russia and China will be denominated in rubles and yuan, not (US) dollars.
    In other words, in one week's time look for not only the announcement of the Russia-China "holy grail" gas agreement described previously here, but its financial terms, which now appears virtually certain will be settled exclusively in RUB and CNY. Not USD.

    http://www.zerohedge.com/news/2014-05-13/russia-holds-de-dollarization-meeting-china-iran-willing-drop-usd-bilateral-trade
    Last edited by HardlyPeeved; 05-13-2014 at 08:59 PM.
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  2. #2

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    Uh oh.....
    Honor for US, Justice for Our Children! Now!

  3. #3

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    Could someone please cut & paste the entire article? Every time I try to access that article, my browser shuts down (which is weird 'cause I've never had problems accessing/reading other ZH articles). Thx!...
    Tomac
    "His Universe, His rules." - Tomac

  4. #4

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    Tomac here is a differnt article about it. apparently the sources sheeple got are Russian newspaper source so take it with a grain of salt but it is explained well.




    http://www.thedailysheeple.com/de-do...odollar_052014
    Make new friends, but keep the old; Those are silver, these are gold.

  5. #5

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    Who would have thought that one man could have done so much damage to our country in only one and one half terms as President?

  6. #6

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    If this happens, it will be a game changer.

  7. #7

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    Quote Originally Posted by silverfrog View Post
    Tomac here is a differnt article about it. apparently the sources sheeple got are Russian newspaper source so take it with a grain of salt but it is explained well.
    http://www.thedailysheeple.com/de-do...odollar_052014
    Thx!
    Tomac
    "His Universe, His rules." - Tomac

  8. #8

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    Make new friends, but keep the old; Those are silver, these are gold.

  9. #9

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    http://www.zerohedge.com/news/2014-0...er-whopping-40

    Russia Dumps 20% Of Its Treasury Holdings As Mystery "Belgium" Buyer Adds Another Whopping $40 Billion
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

  10. #10

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    http://en.ria.ru/russia/20140520/189...urrencies.html

    Russia and China are planning to increase the volume of direct payments in mutual trade in their national currencies, according to a joint statement on a new stage of comprehensive partnership and strategic cooperation signed during high-level talks in Shanghai on Tuesday...

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