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Thread: Putin says Russia should aim to sell energy in roubles

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    Putin says Russia should aim to sell energy in roubles

    '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.

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by DA60 View Post
    '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.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by DA60 View Post
    '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.

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by Montecresto View Post
    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.

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by Montecresto View Post
    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.

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by joG View Post
    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.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by joG View Post
    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.
    Last edited by DA60; 08-14-14 at 11:25 AM.

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by Montecresto View Post
    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.

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by DA60 View Post
    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.

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    Re: Putin says Russia should aim to sell energy in roubles

    Quote Originally Posted by joG View Post
    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/...s-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.
    Killing one person is murder, killing 100,000 is foreign policy

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