Despite exempting several sectors from sanctions, the US is warning India that increased trade with Moscow will result in grave repercussions. Yet, Indian firms have begun the process to accept China’s yuan for their exports.
Russian President Vladimir Putin issued a decree establishing a new payment system for Russian gas by non-friendly countries beginning April 1. Here’s Russia’s gas-for-rubles payment schedule explained.
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 Economy Ministry stated that it was determined to pursue measures against the Rosneft-owned refinery in Schwedt actively threatening to seize Gazprom facilities from Russia.
Russia has set a March 31 ultimatum for “hostile” nations to start paying for natural gas imports in rubles. Countries that placed economic sanctions on the Russia and frozen its foreign currency reserves will be affected by the new currency-switch regulation. This is especially concerning for those EU countries that
After opposition from Serbia and Hungary Russia has stated that Bulgaria will pay for the gas in rubles whether the west likes it or not.
Russian President Vladimir Putin declared at a conference with the administration on Wednesday that Russia would only accept ruble payments for gas shipments to “unfriendly countries.” This could indicate the resurgence of the Russian economy and the rise of the PetroRuble.
The dynamic between the US and Saudi Arabia seems to be dramatically changing. The petrodollar is showing cracks in what seemed to be an impregnable fortress as Saudi Arabia is now considering accepting the Yuan for Chinese oil sales instead of the dollar.
After heated talks about banning Russian oil imports between US and it’s allies Canada has proposed that it’s oil could help the US replace the imports of Russian crude oil if the Keystone XL Pipeline is approved.