` Top Russian Officials push to Remove the `Petrodollar ' in Favour of other `BRICS' or Alternative Currencies '

#AceFinanceNews – Worldwide News – April 04 – (INS) – The existence of “petrodollars” is one of the pillars of America’s economic might because it creates a significant external demand for American currency, allowing the US to accumulate enormous debts without defaulting.

If a Japanese buyer want to buy a barrel of Saudi oil, he has to pay in dollars even if no American oil company ever touches the said barrel. Dollar has held a dominant position in global trading for such a long time that even Gazprom’s natural gas contracts for Europe are priced and paid for in US dollars.

Until recently, a significant part of EU-China trade had been priced in dollars.

Lately, China has led the BRICS efforts to dislodge the dollar from its position as the main global currency, but the “sanctions war” between Washington and Moscow gave an impetus to the long-awaited scheme to launch the petroruble and switch all Russian energy exports away from the US currency .

The main supporters of this plan are Sergey Glaziev, the economic aide of the Russian President and Igor Sechin, the CEO of Rosneft, the biggest Russian oil company and a close ally of Vladimir Putin. Both have been very vocal in their quest to replace the dollar with the Russian ruble.


Now, several top Russian officials are pushing the plan forward.

First, it was the Minister of Economy, Alexei Ulyukaev who told Russia 24 news channel that the Russian energy companies must should ditch the dollar. “ They must be braver in signing contracts in rubles and the currencies of partner-countries, ” he said.

Reuters reports, that Russia is close to entering a goods-for-oil swap transaction with Iran that will give Rosneft around 500,000 barrels of Iranian oil per day to sell in the global market. The White House and the russophobes in the Senate are livid and are trying to block the transaction because it opens up some very serious and nasty scenarios for the petrodollar. If Sechin decides to sell this Iranian oil for rubles, through a Russian exchange, such move will boost the chances of the “petroruble” and will hurt the petrodollar.

VOR – Russian and Serbian News – INS

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#ans2014, #american, #brics, #china, #eu-china, #gazprom, #petrodollars, #petroruble, #rosneft, #russian, #saudi, #us

` Rosneft wants to purchase a Majority Stake in State-Controlled company that owns all of Kyrgyzstan’s Airport’s’

#AceFinanceNews – KYRGYZSTAN – April 02 – Russia’s state-run oil giant Rosneft wants to purchase a majority stake in the state-controlled company that owns all of Kyrgyzstan’s civilian airports.

The negotiations are stoking concern in some circles in Bishkek about the potential risk to Kyrgyzstan’s sovereignty.

But with its entrenched corruption, poor governance and remote location, the Central Asian country has few other options.

Rosneft’s takeover target is a company called Manas International Airport, named for the largest of the airfields under its control.

In addition to Manas, which is situated outside Bishkek, the company operates 10 smaller (mostly non-functional) airports around the country.

The Manas facility has hosted an American military base for almost 13 years, but the troops are packing up and are due to leave by July.

Without the American spending, Kyrgyz officials argue, the company, which is 79 percent state-owned, will go into the red.

“Originally published by EurasiaNet.org”. http://www.eurasianet.org.

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` Russia’s Biggest Billionaire has bought shares in `Alibaba ‘ after selling them in Apple and Facebook ‘

#AceFinanceNews Russia’s biggest billionaire has bought shares in big Chinese internet retailer Alibaba, after selling his stakes in US tech giants Apple and Facebook.

The deal comes as the West imposes sanctions on Russia, that could spread from politics to business.

Usmanov, 60, a founder of Russia’s iron ore Metalloinvest Holding Company, has an estimated fortune of $18.6 billion as of March 2014 and is increasing his bet on China, while selling American assets.

“Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign internet investments,” Ivan Streshinskiy, head of Usmanov’s asset-management company USM Advisors LLC, told Bloomberg in an interview in Moscow.

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