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Putin says Russia should aim to sell energy in roubles

DA60

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'Aug 14 (Reuters) - President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy.

"We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies," Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year. (Reporting by Alexei Anishchuk; Writing by Dmitry Zhdannikov; Editing by Christian Lowe)'


Putin says Russia should aim to sell energy in roubles | Reuters

Russia is number two in exports of oil and the country that exports by far the most natural gas.

So when they start talking about NOT trading these commodities in U.S. dollars...those that support the petrodollar should sit up and take notice, IMO.
 
'Aug 14 (Reuters) - President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy.

"We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies," Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year. (Reporting by Alexei Anishchuk; Writing by Dmitry Zhdannikov; Editing by Christian Lowe)'


Putin says Russia should aim to sell energy in roubles | Reuters

Russia is number two in exports of oil and the country that exports by far the most natural gas.

So when they start talking about NOT trading these commodities in U.S. dollars...those that support the petrodollar should sit up and take notice, IMO.

It amazes me, the risks that the US is willing to take in this, and the pressure that the US has put upon the EU to punish Putin with sanctions that could likely punish themselves in the process. And maybe it could be argued it is justified if Putin was really guilty as charge, however he isn't. It was the US/EU, that facilitated the overthrow of the Ukraine government installing a pro-Western government that only naivety would expect Russia could tolerate.

Risky business here.
 
'Aug 14 (Reuters) - President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy.

"We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies," Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year. (Reporting by Alexei Anishchuk; Writing by Dmitry Zhdannikov; Editing by Christian Lowe)'


Putin says Russia should aim to sell energy in roubles | Reuters

Russia is number two in exports of oil and the country that exports by far the most natural gas.

So when they start talking about NOT trading these commodities in U.S. dollars...those that support the petrodollar should sit up and take notice, IMO.

If he wants to.....
It does not really make much difference. Changing money and hedging currencies is easy and cheap and makes it virtually insubstantial in what currency the contract is made.
 
It amazes me, the risks that the US is willing to take in this, and the pressure that the US has put upon the EU to punish Putin with sanctions that could likely punish themselves in the process. And maybe it could be argued it is justified if Putin was really guilty as charge, however he isn't. It was the US/EU, that facilitated the overthrow of the Ukraine government installing a pro-Western government that only naivety would expect Russia could tolerate.

Risky business here.

Very well said, IMO.
 
It amazes me, the risks that the US is willing to take in this, and the pressure that the US has put upon the EU to punish Putin with sanctions that could likely punish themselves in the process. And maybe it could be argued it is justified if Putin was really guilty as charge, however he isn't. It was the US/EU, that facilitated the overthrow of the Ukraine government installing a pro-Western government that only naivety would expect Russia could tolerate.

Risky business here.

It was the EU that kicked off the Ukraine situation and not the US. They came in later. And the US might be assisting its allies there.
 
It was the EU that kicked off the Ukraine situation and not the US. They came in later. And the US might be assisting its allies there.

You didn't hear about the Nuland/Pyatt work in Kiev leading up to the protests. It was covered widely in other threads.
 
If he wants to.....
It does not really make much difference. Changing money and hedging currencies is easy and cheap and makes it virtually insubstantial in what currency the contract is made.

What?

The petrodollar practically guarantees the U.S. dollar remains the world's reserve currency. It means all countries must hold U.S. dollars to trade many commodities (like oil/gas). Plus, this forced use of the greenback makes it extremely stable and trusted.

If you end the petrodollar, then many/most countries will probably dump their dollars (since they won't need them any longer) which will undoubtedly drop it's value greatly...maybe hugely.
This loss of stability will probably cause it's value to drop even more.

IMO, the petrodollar is HUGE for America. It allows her to 'print' virtually endless amounts of money with little fear of an immediate collapse in her currency's value.
Take that away, and suddenly everything gets very iffy....along with inflation growing greatly (just ask Japan about the latter).

IMO, America is running a potentially big risk with this sanction game of chicken they are playing with Russia.
 
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You didn't hear about the Nuland/Pyatt work in Kiev leading up to the protests. It was covered widely in other threads.

That was already after the kick-off and the game was well under way. They were just trying to get a degenerating situation into some sort of order again.
 
What?

The petrodollar practically guarantees the U.S. dollar remains the world's reserve currency. It means all countries must hold U.S. dollars to trade many commodities (like oil/gas). Plus, this forced use of the greenback makes it extremely stable and trusted.

If you end the petrodollar, then many/most countries will probably dump their dollars (since they won't need them any longer) which will undoubtedly drop it's value greatly...maybe hugely.
This loss of stability will probably cause it's value to drop even more.

IMO, the petrodollar is HUGE for America. It allows her to 'print' virtually endless amounts of money with little fear of an immediate collapse in her currency's value.
Take that away, and suddenly everything gets very iffy....along with inflation growing greatly.

IMO, America is running a potentially big risk with this sanction game of chicken they are playing with Russia.

You need not hold Dollars to trade commodities as a company. You plan and hedge. The Dollar stream for oil you must pay is no more and sometimes even less risk than the wages in production in your own country, when you are not selling your product domestically.
 
That was already after the kick-off and the game was well under way. They were just trying to get a degenerating situation into some sort of order again.

Um, you diminish the role the US played in both the overthrow of the Ukrainian government and the installation of Yat's!

Understandably, it is the phrase "**** the EU" in the leaked phone call between Victoria Nuland, the top US diplomat for Europe, and Geoffrey Pyatt, US ambassador to Ukraine, that has attracted the attention. But it is worth listening to the rest of their talk on YouTube to appreciate the extent to which these senior US officials saw themselves as determining who should form a future Ukrainian government.

http://www.independent.co.uk/voices...r-merely-bad-losers-at-the-polls-9131002.html

A coup d’état has occurred in Ukraine and all of the signs and even the actors behind it were known to the world before it happened. Before the democratically elected president went into hiding and the parliament was taken over by western puppets and neo-nazi [sic] thugs we all knew what the western geopolitical architects were planning on their chessboard.
 
You need not hold Dollars to trade commodities as a company. You plan and hedge. The Dollar stream for oil you must pay is no more and sometimes even less risk than the wages in production in your own country, when you are not selling your product domestically.

Of course you have to hold dollars...either the company or a bank or a government or someone as the transaction MUST take place in U.S. dollars.

It does not matter who holds the dollars...but someone has to.

And that is one major thing that keeps the greenback so valuable...it must be held en masse for people all over the world to trade most commodities (especially oil/gas).

I am not going to debate this as it is fact.

You don't want to believe it or think it is not a big deal to the health of the U.S. dollar...go ahead.
 
Um, you diminish the role the US played in both the overthrow of the Ukrainian government and the installation of Yat's!

Understandably, it is the phrase "**** the EU" in the leaked phone call between Victoria Nuland, the top US diplomat for Europe, and Geoffrey Pyatt, US ambassador to Ukraine, that has attracted the attention. But it is worth listening to the rest of their talk on YouTube to appreciate the extent to which these senior US officials saw themselves as determining who should form a future Ukrainian government.

Are protesters overthrowing a brutal despot, or merely bad losers at the polls? - Comment - Voices - The Independent

A coup d’état has occurred in Ukraine and all of the signs and even the actors behind it were known to the world before it happened. Before the democratically elected president went into hiding and the parliament was taken over by western puppets and neo-nazi [sic] thugs we all knew what the western geopolitical architects were planning on their chessboard.

That is your take? I am more skeptical, though, it is a nice daydream that the US might have the ware with all to do that. I do not think that they are that good.

The Russians began putting heavy pressure on Kiev, when they decided to sign the trade agreement. That was quite understandable, actually, to be expected by anyone who had read the treaty. The Europeans stirred up the street, when they were insulted at the signing ceremony and rudely turned down. The street organized the demos and blockades with Western but probably not government money. That escalated like we have seen in so many places recently. Along the cultural fault lines the populations view the decision for or against Russia differently and a little support meant Putin could grab Crimea with its resources and possibly detach a chunk of the rump by civil unrest to leave the EU treaty with a small rest of Ukraine and the East in the Federation's area of influence.
 
That is your take? I am more skeptical, though, it is a nice daydream that the US might have the ware with all to do that. I do not think that they are that good.

The Russians began putting heavy pressure on Kiev, when they decided to sign the trade agreement. That was quite understandable, actually, to be expected by anyone who had read the treaty. The Europeans stirred up the street, when they were insulted at the signing ceremony and rudely turned down. The street organized the demos and blockades with Western but probably not government money. That escalated like we have seen in so many places recently. Along the cultural fault lines the populations view the decision for or against Russia differently and a little support meant Putin could grab Crimea with its resources and possibly detach a chunk of the rump by civil unrest to leave the EU treaty with a small rest of Ukraine and the East in the Federation's area of influence.

What are you talking about, the US hasn't the talent to do such things, there's a list longer than your arm where we have done that exact thing all over the world, and you just saw it in Kiev last fall. But apologise away joG.
 
What are you talking about, the US hasn't the talent to do such things, there's a list longer than your arm where we have done that exact thing all over the world, and you just saw it in Kiev last fall. But apologise away joG.

Yes. The US has assisted the elites in countries in the past. And that was fine. These things are not, however, as cut and dried as you seem to think. And the US is in a much less formidable position to achieve a coup d'état in Ukraine than it was in other places. A number of EU members had much more leverage. No, no. I would not mind had the US done so, except I would no like the US so much involved, but this was a European job.
 
very smart play by putin/russia
to respond to sanctions he makes a move to undermine the dollar
the ball is now in our court
 
Yes. The US has assisted the elites in countries in the past. And that was fine. These things are not, however, as cut and dried as you seem to think. And the US is in a much less formidable position to achieve a coup d'état in Ukraine than it was in other places. A number of EU members had much more leverage. No, no. I would not mind had the US done so, except I would no like the US so much involved, but this was a European job.

I just PROVED to you that the US was involved, but......like I said, you go on believing what you wish.
 
I just PROVED to you that the US was involved, but......like I said, you go on believing what you wish.

That was an interesting standard of proof.
 
'Aug 14 (Reuters) - President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy.

"We should act carefully. At the moment we are trying to agree with some countries to trade in national currencies," Putin said during a visit to the Crimea region, which Moscow annexed from Ukraine earlier this year. (Reporting by Alexei Anishchuk; Writing by Dmitry Zhdannikov; Editing by Christian Lowe)'


Putin says Russia should aim to sell energy in roubles | Reuters

Russia is number two in exports of oil and the country that exports by far the most natural gas.

So when they start talking about NOT trading these commodities in U.S. dollars...those that support the petrodollar should sit up and take notice, IMO.

Putin says...

talk is cheap.

And Russia is losing the economic war. Let's keep up the pressure, keep the sanctions, until he decides that annexing the Ukraine isn't worth the cost, or until the Russians get fed up and replace this wannabe Stalin.
 
That was an interesting standard of proof.

There's no better proof then Nuland/Pyatt plotting this on a leaked (by Russia, too funny) phone conversation that you apparently are scared to go listen to because it destroys your theory. Again though, as I said, believe what you wish, its not going to change things one way or the other.
 
There's no better proof then Nuland/Pyatt plotting this on a leaked (by Russia, too funny) phone conversation that you apparently are scared to go listen to because it destroys your theory. Again though, as I said, believe what you wish, its not going to change things one way or the other.

I think you really believe these things. Of course I know the tape. But the thing was already under way and in deterioration at that time. There was only crisis management left to do. What the tape does show, is the utter despair of the way the EU had handled it. It was as bad as Genscher in Yugoslavia.
 
I think you really believe these things. Of course I know the tape. But the thing was already under way and in deterioration at that time. There was only crisis management left to do. What the tape does show, is the utter despair of the way the EU had handled it. It was as bad as Genscher in Yugoslavia.

Well yeah, having listened to them. And I'm not defending the EU's handling of things either.
 
That is wise. ;)

My concern is with the US and its interventionist policies.

"That's some pretty impressive tradecraft," said Assistant Secretary of State Victoria Nuland of the interception and leak of her now-infamous call to US Ambassador to Ukraine Geoff Pyatt. The call consisted of the two plotting to install a US puppet government in Ukraine after overthrowing the current, democratically elected government.

Tradecraft means "spycraft." In other words, Nuland was crediting a foreign intelligence service with impressive use of technology to be able to hack into her call to the ambassador. Everyone knew she was talking about Russia, partly because the Administration had been blaming Russia from the moment the recording was made public.
 
My concern is with the US and its interventionist policies.

"That's some pretty impressive tradecraft," said Assistant Secretary of State Victoria Nuland of the interception and leak of her now-infamous call to US Ambassador to Ukraine Geoff Pyatt. The call consisted of the two plotting to install a US puppet government in Ukraine after overthrowing the current, democratically elected government.

Tradecraft means "spycraft." In other words, Nuland was crediting a foreign intelligence service with impressive use of technology to be able to hack into her call to the ambassador. Everyone knew she was talking about Russia, partly because the Administration had been blaming Russia from the moment the recording was made public.

Well, after the EU, the Russians did take the front seat on escalating this thing.
 
Well, after the EU, the Russians did take the front seat on escalating this thing.

The Russians are responding to the US's intrigue. They are not the aggressors in this.
 
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