Russian Oil Sold To China Using Renminbi

Peter's Commentary There is a pronounced trend by Russia to receive payments in alternative currencies rather than the US Dollar. Direct transactions using Russian and Chinese currencies rose from $307 million in September, to  $5.2 billion in October. That's a large and fast increase.   Photo: Eric Mueller  From UPI.com, Ed Adamczyk, Nov 14, 2014: Russian President … [Read more...]

Putin Wants Russia to Sell Energy in Roubles

Peter's Commentary One of the easiest ways for Putin to attack the US is to start selling energy without settling payments in the US dollar. If Russia starts to sell energy without the US dollar being involved, you can expect the US dollar index to drop significantly overnight. Remember that Russia sells gas to a lot of European countries. What if Russia made the transactions in German marks … [Read more...]