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Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles

 
danes1
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User ID: 59656571
Spain
06/27/2014 07:28 AM

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Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles
A little over a month ago, when Russia announced the much anticipated "Holy Grail" energy deal with China, some were disappointed that despite this symbolic agreement meant to break the petrodollar's stranglehold on the rest of the world, neither Russia nor China announced payment terms to be in anything but dollars. In doing so they admitted that while both nations are eager to move away from a US Dollar reserve currency, neither is yet able to provide an alternative. This changed rather dramatically overnight when in a little noticed statement, Gazprom's CFO Andrey Kruglov uttered the magic words (via Bloomberg):

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Anonymous Coward
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06/27/2014 07:53 AM
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Re: Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles
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