Blowback from Trump's sanctions against the country
Coming fast on the heels of a serious Chinese-Russian challenge to the petrodollar, this is important. We published an excellent article about this yesterday titled: 'We Should Take the Latest China-Russia Challenge to the Dollar Seriously', by William Engdahl, one of the best experts on this subject in the world.
Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight?
Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports.
As we previously noted, Venezuelan President Nicolas Maduro said last Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week. According to Reuters,
“Venezuela is going to implement a new system of international payments and will create a basket of currencies to free us from the dollar,” Maduro said in a multi-hour address to a new legislative “superbody.” He reportedly did not provide details of this new proposal.
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