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Russia may dump weakening U.S. dollar in its energy deals

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salib Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-16-07 09:16 PM
Original message
Russia may dump weakening U.S. dollar in its energy deals
http://english.pravda.ru/russia/economics/13-12-2007/102797-dollar-0

It seems that the rejection of the U.S. dollar has become a fashion trend in modern-day business relations. Several major oil and gas exporters have recently announced their plans to use a different currency in their deals with other countries. The heads of Iran, Venezuela and Ecuador expressed such an opinion at the OPEC summit in November. Iranian President Mahmoud Ahmadinejad particularly stated that Iran needs to replace the dollar because of its ongoing setback. His Venezuelan counterpart, Hugo Chavez, expanded on the idea and put forward a suggestion to change the dollar for the basket of currencies (apart from the dollar it includes the euro, the British pound, the Japanese yen, the Chinese yuan and the Venezuelan bolivar) to recalculated world prices on oil. Ahmadinejad continued with an idea to set up the OPEC Oil Exchange and the OPEC Bank.
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Deja Q Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-16-07 09:23 PM
Response to Original message
1. Didn't Pravda whine that there was no Russian aboard the Enterprise?
Okay, that was 40 years ago, but still...
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salib Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-16-07 09:39 PM
Response to Reply #1
2. Pravda whines a great deal
However, we are at the precipice with this one.
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tom_paine Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-17-07 01:02 AM
Response to Reply #1
4. Ummmmm...Chekov, anyone?


"Keptin! Three Bushie wessels approaching! Shall I fire photon torpedos?"
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Bonhomme Richard Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-16-07 10:19 PM
Response to Original message
3. And the screw tightens......Is China next?
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