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.
The massive explosion that rocked Lebanon completely obliterated the Port of Beirut. Although, officials did not say what caused the initial blaze that set off the blast, the Port of Beirut has been caught in a covert war brewing in Lebanon for sometime. Commentators on the Levant have long been
A secret oil deal between China and Iran at the heart of the One belt One Road project will change the geopolitical balance of power in the Middle East. The manufacturing products created by utilizing cheap Iranian resources will be used to crack the western markets through the China-Iran axis
In a big blow to the Aatmanirbhar Bharat Abhiyan, India is planning to store its Oil in US Reserves. Although the move will create further energy-dependency for India in the event of supply-chain disruption or price-spikes, the policy is being projected as a strategic masterstroke by the Oil Minister. In
President Nicolas Maduro has announced that Venezuela will sue US in International Criminal Court (ICC) for severe damage caused by the economic sanctions. Meanwhile, an India-Russia partnership is helping Venezuela bypass the US imposed sanctions. Venezuela to sue US in International Criminal Court Venezuelan President Nicolas Maduro has announced that
Hugo Chavez, the former President used to roam the streets of Venezuela in tanks filled with Gold bars displaying to his countrymen how their Gold and Oil would be used to pull the nation out of the Petrodollar system. Chavez is assassinated before fulfilling his dream and Venezuela has gone
