Why has the euro fallen to $1 and what does it mean for the rupee? The euro's decline in value relative to the dollar indicates that investors are shifting funds away from the Eurozone and toward the US.
Europe would be on "red alert" for gas supply over the upcoming winter and it is the consequence of their actions. This comes amid reports of EU importing more U.S. LNG than Russian pipeline gas for the first time ever.
Saddam, Gaddafi, Iran, Venezuela – they all tried but couldn’t do it. But Russia is on a different level altogether.
The beauty of the game-changing, gas-for-rubles, geoeconomic jujitsu applied by Moscow is its stark simplicity.
The U.S. dollar is used by nations for international transactions because it is a stable currency that is easily convertible all over the globe and because resources like oil are priced in dollars. However, will the US dollar be replaced with BRICS currencies in the near future?
On September 12, Russian President Vladimir Putin stated that, given mounting economic sanctions, full “de-dollarization” of the Russian economy is only a matter of time (RBC, September 12). Putins remark was preceded by a statement from Russian Deputy Finance Minister Alexey Moiseev, who argued that “Russia no longer needs the US dollar as a reserve currency.”
The import of energy goods from Russia, such as crude oil, refined fuels, distillates, coal, and gas, into the United States is prohibited. Now, the US is worried over routing of Russian oil through India.
The War of Economic Corridors has entered incandescent, uncharted territory: Pipeline Terror.
The war against Syria is an attempt by the West to maintain control over the world. Now, Syria is demanding compensation for oil and gas stolen by the United States at the UN.
According to the SCMP, China bought a total of 2.35 million tonnes of LNG from Russia and is now aggressively reselling Russian gas to Europe.
According to Bloomberg, China and India are buying Russian crude at a 40% discount, and Moscow may be losing $4 billion in energy earnings every month as a result of its war in Ukraine.
