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PETRODOLLAR COLLAPSE: Putin Announces Oil And Gas Sales In Rubles


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I have been warning about this for a long time, and I am shocked this isn’t the only thing we are talking about right now.

The petrodollar system has effectively just collapsed with Vladimir Putin’s recent announcement that hostile nations will have to pay for Russian energy in Russian Rubles.

This decades old system has essentially been upended with this announcement, as no serious challenge to the U.S. Dollar’s dominance of the oil trade has ever been successfully issued.

A demise of the Dollar as the global reserve currency is further compounded by reports of nations like Saudi Arabia mulling over pricing oil in Chinese Yuan, as opposed to a now overprinted and ailing Dollar.

Critics of Putin will no doubt say that this recent announcement will have no impact on the price of the Ruble, or the future of the U.S. Dollar, but if this were true the price of the Ruble would not have recently retraced to pre-war levels…

So far, many of the G7 nations have outright denied Putin’s request, but as I stated earlier this is a bold move that will likely embolden others to follow suit, and to issue their own challenges to U.S. Dollar supremacy in energy trade.

All of this isn’t even considering the profound and revolutionary effect of cryptocurrencies and digital assets in global trade moving forward.

Stolen elections and rampant money printing have very real and very serious consequences—just take a look:

The Epoch Times reports:

“In order to purchase Russian natural gas, they must open ruble accounts in Russian banks. It is from these accounts that payments will be made for gas delivered starting from tomorrow,” Putin said in televised remarks.

“If such payments are not made, we will consider this a default on the part of buyers, with all the ensuing consequences. Nobody sells us anything for free, and we are not going to do charity either … that is, existing contracts will be stopped.”

 

The Wall Street Journal states that the Russian Ruble has retraced its lost value to pre-war levels:

The Russian ruble strengthened close to its preinvasion level against the dollar Thursday—a byproduct of the central bank’s tight control over the currency. Also at play, a possible surge of quarter-end payments for Russia’s commodity exports.

The quick rebound of the ruble surprised some who expected that Western sanctions targeting Russia’s financial system would cause prolonged weakness in the currency.



 

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