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Business/Finance See other Business/Finance Articles Title: Russia Delivers Blow To Petrodollar In Historic $20 Billion Iran Oil Deal Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions and the dollar based western monetary system yesterday. Russian Energy Minister Alexander Novak and his Iranian counterpart Bijan Zanganeh signed a five-year memorandum of understanding in Moscow, which included cooperation in the oil sector. "Based on Iran's proposal, we will participate in arranging shipments of crude oil, including to the Russian market," Novak was quoted as saying. The five year accord will see Russia help Iran “organise oil sales” as well as “cooperate in the oil-gas industry, construction of power plants, grids, supply of machinery, consumer goods and agriculture products”, according to a statement by the Energy Ministry in Moscow. The deal could see Russia buying 500,000 barrels of Iranian oil a day, the Moscow-based Kommersant newspaper has previously reported. Under the proposed deal Russia would buy up to 500,000 barrels a day or a third of Iranian oil exports in exchange for Russian equipment and goods. The Russian government withdrew the statement regarding the deal last night, but said it would issue a new statement today. In January, Russia said that they were negotiating an oil-for-goods swap worth $1.5 billion a month that would enable Iran to lift oil exports substantially to Russia, undermining Western sanctions. Yesterday, the Russian President told regional leaders that “the political tools of economic pressure are unacceptable and run counter to all norms and rules.” He said in response to western sanctions he had given orders to boost domestic manufacturers at the expense of non-Russian ones. The White House has previously said that reports of talks between Russia and Iran were a matter of "serious concern". Reserve Currencies In History - Dollar's Demise Continues "If the reports are true, such a deal would raise serious concerns as it would be inconsistent with the terms of the agreement with Iran," Caitlin Hayden, spokeswoman for the White House National Security Council, said in January. U.S. and European Union sanctions against Russia threaten to hasten a move away from the petro dollar that’s been slowly occurring since the global financial crisis. See important guide to Currency Wars here Currency Wars: Bye, Bye Petrodollar - Buy, Buy Gold Poster Comment: laomei Iran can't build refineries because Israel keeps blowing them up. Russia has access to markets Iran doesn't due to bullshit sanctions (because israel). Iran can definitely use equipment and other shit Russia either makes or can swap for. International barter is far better than deals for cash... cash just adds complexity and parasitic middlemen and in the end they end up with something that once again has to be traded for what they actually want... and also, you get to skip over any issues with cash restrictions on Iran. Win win shit right there. stant Putin ordered 16 Boeing liners puts a small down payment. Then kills the deal when Obama sanctions him. More popcorn please Freddie Who would want anything Boeing? All the modern airliners can be taken over by ground control including the 777. Only Lufthansa can buy the non-NWO remote control versions. The Russian stuff keeps improving while USA stuff like the insanely expensive and insanely bad F-35 get worse. besnook the israelification of usa foreign policy is working out as well as it does for israel. when the history is written by future phd candidates the pnac foreign policy will revealed to be the stupidest strategy the world has ever known. bush senior called them the crazies in the basement. clinton, shrub and obambam will be given the responsibility for accellerating the end the best and greatest empire the world has ever known for letting them out of the basement. the people who beat them back into the basement should be considered american heroes. where are they? no where in sight. the usa is doomed if the response is kinetic action. fn idiots. stock up on spam(it last forever, even after the can is opened) and pms and lead. rainingFrogs "Under the proposed deal Russia would buy up to 500,000 barrels a day or a third of Iranian oil exports in exchange for Russian equipment and goods." Sweet deal for Russian manufacturers, essentially bartering oil for Russian produced goods. Likely a bunch of new weaponry. Nice juice for the Russian economy, building up its manufacturing base. Russia sells the oil to the Europeans for anything other than the US$. What's not to like. Sanctions, smanctions. As the US seeths and has a hissy fit, Putin is cutting deals outside of the US$ system. All Putin has to do is go all the countries that are on the US naughty list and cut a trade deal with them. Let's see, umm, US puppets = New Zealand, Australia, Canada, UK on one side, and everyone else on the other. Lookin' good. wintermute I don't get it. Russia and Iran are both oil exporters. Where is Russia going to store the Iranian oil. In Putin's swimming pool? basho you're right. you don't get it. lol Post Comment Private Reply Ignore Thread
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