BRILLIANT! Putin out-thinks the US again! By charging Roubles for Russia’s oil, Putin will force European countries to have to trade Euros for Roubles, leaving the US dollar high and dry.
The US cannot complain about Russia selling its oil for the Rouble without telegraphing to the world that all these wars of conquest have been about keeping the global oil trade in US dollars only.
On one hand, despite initial weakness following Europe’s triple-dip red alert, futures declined only to surge higher after some headline or another out of Russia was again spun to suggest imminent Ukraine de-escalation (something which Russia whose only interest is to keep crude prices high, has absolutely zero interest in), perpetuating a rumor which was set off by a Russian media outlet tweet last week that has sent S&P futures over 50 higher in less than a week on… nothing.
On the other, Putin just said the following, which no matter how one spins it, shows precisely how Russia is inclined vis-a-vis future (un-de-counter) escalations.
PUTIN SAYS RUSSIA SHOULD AIM TO SELL OIL AND GAS FOR ROUBLES GLOBALLY, AS DOLLAR MONOPOLY IN ENERGY TRADE IS DAMAGING ECONOMYPresident Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia’s economy.“We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies,” Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year.
Countries such as China, India, Iran, Brazil, and virtually every other non-insolvent, that is to say “developed, Western” country.
And now, bring on the Russian “isolation” (which is about to push Europe, not Russia, into a triple-dip recession) and further de-escalation.
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