WORLD-NEWS
Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble
Category: WORLD-NEWS
Tags: business News Russia China Oil Yuan

Petro-dollar era is officially over as Gazprom begins sales in Yuan and Rouble

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Aug. 27 will officially go down as a red letter day in the history of reserve currencies and dollar hegemony in how oil and gas are purchased throughout the world. In a new announcement from the Russian business media source, Kommersant, Gazprom has conducted the first sale of oil in a currency other than the dollar, and will henceforth open their purchase window to accept both Roubles and Yuan for the exchange of oil and gas products.

Beginning today with an 80000 ton oil shipment from their Arctic fields, Gazprom Neft agreed to new terms on the sale and transfer of oil through the Eastern Siberian-Pacific Ocean pipeline (ESPO) toChina, and facilitating the future sale of oil and gas to both Europe and China through a currency other than the dollar. And although this is not the first real transaction for oil done outside the petro-dollar, as this occurred covertly by Iran for gold during the days of economic sanctions, it is the first official global offering by a major oil producer and will likely bring an end to the solitary system of nations being forced to buy dollars first before buying oil from producers such as OPEC and Russia.

The Russian government and several of the country’s largest exporters have widely discussed the possibility of accepting payments in rubles for oil exports. Last week, Russia began to ship oil from the Novoportovskoye field to Europe by sea. Two oil tankers are expected to arrive in Europe in September.

According to Kommersant, the payment for these shipments will be received in rubles.

Gazprom Neft will not only accept payments in rubles; subsequent transfers via the ESPO may be paid for in yuan, the newspaper reported.

According to the newspaper, the change in currency was made because of the Western sanctions against Russia.

As a protective measure, Russia decided to avoid making its payments in US dollars, which can be tracked and controlled by the United States government, Kommersant reported. - RiaNovosti

Russia and China had already long been in the works to supply one another with oil, energy, and other trade goods outside the dollar through a historic energy agreement made in late May of this year. However, the irony in all of this is that the move to enlarge this method of payment for oil to accommodate global transactions was only accelerated because of U.S. imposed sanctions, which were done in an attempt to isolate Russia, and tear down their economy.

The days of the dollar remaining the global reserve currency took a sharp hit today, and the ramifications of Russia's new move for selling oil in both Roubles and Yuan are just beginning. And since there is over $17 trillion in U.S. dollars afloat and in nations outside the U.S. kept on reserve for the primary purpose of buying oil and natural gas, as more and more countries migrate to the East and find it far more inexpensive and efficient to no longer use the dollar and SWIFT systems to supply their energy needs, then these dollars will soon come crashing back to American shores, and the inflation America has exported offshore for decades will come rudely back and suddenly hit U.S. consumers and our financial system.

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NATO planning 'rapid-deployment force' of 10,000 troops to counter Russia
Category: WORLD-NEWS

Those are future killers, ready to fight Russia. Look at them German troops who are part of the NATO-led International Security Assistance Force (ISAF) (Reuters / Omar Sobhani)

German troops who are part of the NATO-led International Security Assistance Force (ISAF) (Reuters / Omar Sobhani) 

NATO is reportedly working towards the creation of an expeditionary force composed of 10,000 troops from seven different member states as a result of escalating tensions with Russia over the conflict in Ukraine.

According to the Financial Times, the force’s creation will be spearheaded by Britain and involve contributions from Denmark, Latvia, Estonia, Lithuania, Norway, and the Netherlands. Canada is also interested in joining the group, but it’s not known what its final decision will be.

Although no formal announcement has been made, British Prime Minister David Cameron is expected to declare its formation at the upcoming NATO summit in Wales on September 4th.

Many specifics have yet to be worked out or announced, but planners are reportedly implementing ways to increase the number of soldiers involved even more if necessary. Air and naval units will be integrated into the group, as well as ground troops led by British commanders.

As noted by the Times, the creation of the force comes as a response to Russia’s involvement in the ongoing Ukrainian crisis, with the ultimate goal being to “create a fully functioning, division-sized force for rapid deployment and regular, frequent exercises.” NATO has accused Russia of deploying more than 1,000 troops into Ukraine to bolster separatists in the eastern part of the country.

Russia, however, insists that it does not have troops operating inside of Ukraine and has dismissed NATO’s assertions.

Despite the fact that NATO has opted not to act militarily in Ukraine – unnamed sources toldForeign Policy on Friday that there are no plans to confront Russia with anything more than stronger sanctions – Jonathan Eyal of the London-based Royal United Services Institute said the group needs to demonstrate that its eastern European members are just as integral to the alliance as other states.

“We need to end the idea of different zones of security in Europe,” he told the Financial Times. “We need to be talking about prepositioning, regular rotation of troops and making it very clear that we do not accept that the eastern Europeans are in some different category of membership of NATO.”

The revelation also arrives just a few days after NATO’s Secretary-General Anders Fogh Rasmussenexpressed interest in forming “a more visible presence” in Eastern Europe in the form of facilities capable of rapidly receiving “response forces” needed to counter Russia.

For his part, Russia’s envoy to NATO, Aleksandr Grushko, said any attempt to stretch further into the region would impact Moscow’s own security planning.

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'Open-air prison': Cardiff residents angered by NATO summit security fence
Category: WORLD-NEWS

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Published on 30 Aug 2014

The jihadist threat is casting a shadow over security plans for the NATO summit in Cardiff next week. Some of the measures have made the Welsh capital look more like a high-security prison. READ MORE http://on.rt.com/g4rybm

My comment: How much the British people have to spend and endure while they are there... When the people will say ENOUGH IS ENOUGH?

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