-->President Vladimir Putin said Thursday Russia could switch its trade in oil from dollars to euros, a move that could have far-reaching repercussions for the global balance of power -- potentially hurting the U.S. dollar and economy and providing a massive boost to the euro zone.

"We do not rule out that it is possible. That would be interesting for our European partners," Putin said at a joint news conference with German Chancellor Gerhard Schroeder in the Urals town of Yekaterinburg, where the two leaders conducted two-day talks...

Putin's words come in the wake of a protracted drive by the EU to attract more countries' trade and currency reserves into euros, in a bid to chip away at U.S. hegemony over the global economy and money supply...

A move by Russia, as the world's second largest oil exporter, to trade oil in euros, could provoke a chain reaction among other oil producers currently mulling a switch and would further boost the euro's gradually growing share of global currency reserves.


dieser Schritt wurde von mehreren Ã-lexporteuren zwar schon angedroht, aber bislang ausser dem Irak noch von keinem verwirklicht. Wenn dies wirklich passieren sollte, dann wird es spannend!

Man beachte auch die Rubelaufwertung gegenüber dem Dollar die letzten Tage, die dortige Zentralbank hat jedenfalls nicht interveniert.


Plus die heutige Aufforderung des OPEC-Skretärs, dass die USA doch bitte ihre Notfallvorräte angreifen sollten.

stay tuned!


gruss,
Sorrento
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