The Russian Analyst wrote about this trend in the previous article, and Ken Schortgen Jr. confirms it citing RT.com — the Trump Administration’s efforts to isolate Iran are mostly succeeding in diverting Iranian crude from European and Indian refiners to the Chinese. This may have interesting implications for the joint U.S.-Israel-Saudi efforts to squeeze Tehran, particularly given Dr. Jim Willie’s claim that Beijing has quietly been seeking to make two of its leading oil suppliers the Saudis and Iranians ‘play nice’. — JWSRead More
In the Russian Analyst’s opinion, this move is a direct counter to U.S. attempts to enforce the Countering America’s Adversaries Through Sanctions Act (CAASTA) against Russia and re-imposition of anti-Iranian economic measures. Since the collapse of the Soviet Union, a major source of revenue in Belarus has been the refining and export of Russian crude to Europe. Another source of Belorussian income has been supplying Soviet type arms and parts to Iran when that nation was still under pre-JCPOA sanctions.
With Washington putting the squeeze on EU refiners not to touch Iranian oil while giving ENI and Total just 90 days or less to comply, the Belorussians are well situated to profit from busting the U.S. sanctions. They can import by rail Iranian oil that doesn’t get processed in Russian refineries after its shipped up the Volga from the Caspian Sea. Of course, to do that, Minsk needs to be able to transact on a large scale without dollars. — JWSRead More
As bond markets in the West show signs that foreigners no longer want dollar denominated assets, an interesting thing is occurring that may just provide short-term salvation to economies that desperately need an infusion of liquidity. And this surprising catalyst is the sudden rising of oil prices and the return of Petrodollar flows.Read More
From CoinTelegraph via Zerohedge.com comes the breaking news that President Vladimir Putin has ordered the accelerated roll out of a cryptocurrency backed by Russia's central bank.
While cryptocurrencies such as bitcoin and ethereum received a great deal of attention at July's 2017 St. Petersburg International Economic Forum, notably through Putin's extensive meetings with ethereum's Russo-Canadian executive Vitalik Buterin, these reports indicate a move towards a sovereign cryptocurrency that, as RogueMoney regular contributor London Paul has forecast for many months, will be convertible to cash rubles and be asset (most likely gold) backed...Read More