Financial Times/Max Seddon and Henry Foy/10-12-2019
“Russia is exploring currency settlements in euros and roubles for its vast energy exports in an attempt to avoid the dollar and insulate Moscow from the US-led global financial system.”
USAGOLD note: Russia’s move to replace the dollar in its reserves is the known part of this story. The unknown is how successful it will be in persuading corporations and countries to settle oil transactions in roubles.
