The global distribution of Russian gas was hampered after sanctions were imposed on the “belligerent” state. Since then, the global gas supply chain has been in shambles. It should be clear by now that the West is heavily dependent on Russian gas and that the more they attempt to isolate one of the major gas exporters, the more their actions backfire on them.
The Kremlin has recently announced that henceforth it will only accept gas payments in Ruble. Other countries have already commenced trading in local currencies, bypassing the dollar hegemony. Are we witnessing waves of de-dollarization, precipitating into the overthrow of the dollar as a global currency?
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New Global Economic Order Built Around China?
By , April 01, 2022
There are now countries rushing to find ways of transacting and storing money that circumvent the US currencies and financial markets, as well as those of their allies. Some countries are renegotiating the currency in which they get paid for trade.
Russia Demands Ruble Payments for Gas Instead Western Currencies
By , March 31, 2022
According to reports, Putin claimed that Western currencies are “compromised”, which is why it would be necessary to change the payment method to the Russian ruble. “Compromised” would be all currencies active in western countries considered hostile by the Russian government, which includes the US, UK and the entire European Union.
UAE Energy Chief Reaffirms Commitment to Opec+ Alliance with Russia
By , March 29, 2022
The United Arab Emirates‘ energy minister on Monday reaffirmed an oil alliance with Russia, as governments across the globe shun Moscow over its invasion of Ukraine. Suhail al-Mazrouei, a former president of the oil alliance, said that Russia, which exports roughly 10 million barrels of oil a day, is an important member of the global Opec+ energy alliance and no producer could substitute its production.
Strategic Miscalculation? Financial Sanctions Directed against Russia Could “Topple the West”?
By , March 29, 2022
The Russian central bank reacted to the sanctions by stopping capital flows out of Russia and nationalising the foreign exchange earnings of major exporters, requiring Russian firms to convert 80% of their dollar and euro earnings into rubles. It also raised interest rates to 20% in an effort to attract foreign capital.
Putin’s Rubles for Gas Demand Ensures “Unfriendly Countries” Prop Up Russian Economy
By , March 25, 2022
Russian President Vladimir Putin announced on March 23 that natural gas payments from so-called unfriendly countries will be made in rubles from now on. He stressed however that Russia will continue to supply gas to other countries according to the volume and price specified in previously signed contracts.
Say Hello to Russian Gold and Chinese Petroyuan
By , March 16, 2022
The Eurasian system is bound to become a serious alternative to the US dollar, as the EAEU may attract not only nations that have joined BRI (Kazakhstan, for instance, is a member of both) but also the leading players in the Shanghai Cooperation Organization (SCO) as well as ASEAN. West Asian actors – Iran, Iraq, Syria, Lebanon – will be inevitably interested.
The Coming World War for US Dollar Supremacy? US-Backed NATO Expansion to Russia’s Borders
By , February 25, 2022
The US uses its reserve currency status to control the world’s economy and its politics in its favor, for example it uses economic sanctions as a tool against countries who don’t do what Uncle Sam wants them to do.
