Russia To Reduce US Dollars In National Wealth Fund As Putin’s De-Dollarization Continues

Featured Story

Russia’s de-dollarization effort is full steam ahead, in line with President Putin’s commitment to reduce the country’s vulnerability to the continuing threat of US sanctions.

Crossing the wires early Wednesday morning, Russian Deputy Finance Minister Vladimir Kolychev was quoted by Reuters as saying the Russian sovereign wealth fund will reduce US Dollars and is considering adding Chinese yuan. 

  • RUSSIAN DEPUTY FINANCE MINISTER KOLYCHEV SAYS SHARE OF US DOLLARS IN NATIONAL WEALTH FUND WILL BE REDUCED 
  • RUSSIAN DEPUTY FINANCE MINISTER KOLYCHEV SAYS INCLUSION OF OTHER FOREIGN CURRENCIES INCLUDING YUAN IS BEING CONSIDERED
  • RUSSIAN DEPUTY FINANCE MINISTER KOLYCHEV SAYS FINANCE MINISTRY PLANS TO CHANGE NATIONAL WEALTH FUND’S FX STRUCTURE IN 2020 

Kolychev said the change to the foreign exchange structure of the wealth fund would occur in 2020.

Last month, Russian Economy Minister Maxim Oreshkin told the Financial Times that the country would continue down the path of de-dollarization and begin trading some oil transactions in Euros and roubles.

“We have very good currency, and it’s stable. Why not use it for global transactions?” Oreshkin said in a recent interview with the FT.

 “We want (oil and gas sales) in roubles at some point,” he said.

Despite less than 5% of Russia’s $687.5 billion in annual trade being with the US, it remains that over half of that trade still relies on the dollar, according to Bloomberg figures.

US sanctions have been very selective as of recent, specifically targeting Gazprom, the country’s gas giant. Sanctions have banned any US company from supplying Gazprom with equipment.

Russia’s desire to abandon the dollar is a trend that continues to gain momentum and could be fully realized by the mid/late 2020s. Source

StevieRay Hansen
Editor, Bankster Crime

MY MISSION IS NOT TO CONVINCE YOU, ONLY TO INFORM YOU…

The Birth Pains Are Growing Stronger….

“Unless God has raised you up for this very thing, you will be worn out by the opposition of man and devils”…
My name is Steve Meyers and I need to share a vision and warning that the Lord showed me back in April 2007….

Many of you will ask why I waited so long to share the warning. I didn’t. I shared the story with everyone that would listen from pastors to friends to family to colleagues. Immediately following the initial vision, I called a close friend. I told him to sit down that I had something to tell him. I needed it documented as I knew this was supernatural and from God. As I witness events unfolding today, I need to share the vision again.

The risk of loss in trading futures and options on futures can be substantial. The author does not guarantee the accuracy of the above information, although it is believed that the sources are reliable and the information accurate. The author assumes no liability or responsibility for direct or indirect, special, consequential or incidental damages or for any other damages relating or arising out of any action taken as a result of any information or advice contained in this commentary. The author disclaims any express or implied liability or responsibility for any action taken, which is solely at the liability and responsibility of the user.

Tagged Under: #Fraud #Banks #Money #Corruption #Bankers,#Powerful Politicians, #Businessmen


Don't Miss

Another Iconic Deflationist Capitulates: According To Russell Napier, “Control Of Money Supply Has Permanently Left The Hands Of Central Bankers

By StevieRay Hansen

One by one the world’s legendary deflationists are taking one look at the following chart of the global money supply (as shown most recently by DB’s…

Read More

Doug Casey On COVID Brainwashing: “Look, Hysteria Is The Problem; Not The Flu Itself”

By StevieRay Hansen

Recently, gold bug and investor Doug Casey sat down with Kenneth Ameduri of Crush the Street. Casey jumped right in saying the breakdown of the United…

Read More

Depositors Beware: Deutsche Bank Warns Trading Revenue Boom Is Ending

By StevieRay Hansen

With Europe’s benchmark interest rates still staunchly in negative territory, the long-suffering European banks, epitomized by fading German ‘national champion’ Deutsche Bank, have benefited from…

Read More

Rabobank: “Markets Are, Across The Board, Totally Divorced From Reality. Facts No Longer Matter”

By StevieRay Hansen

Make It So! Back in the 1980s, there was a lot of discussion at my college about “post-modernism”. At that point, it was in a…

Read More

How Deutsche Bank Helped Con The Public Into Believing In Wirecard

By StevieRay Hansen

By Tyler Durden More reporting on the Wirecard situation has emerged over the long weekend in the US, and none of it is flattering. As a court-appointed…

Read More

USDA Crop Report Shocker Sends Corn Futures Surging

By StevieRay Hansen

Chicago corn futures surged 8% in the last two sessions after a massive reduction to the U.S. government’s acreage estimate reported Reuters.  The U.S. Department of Agriculture’s…

Read More

“Red Flags Galore”: Companies Sold A Mindblowing $113 Billion In Stock In Q2

By StevieRay Hansen

When it comes to bearish market flow red flags, aggressive selling of stock by corporate insiders is traditionally viewed as the biggest red flag –…

Read More

US Bankruptcies Busting Out to Match 2009 Peak Mean Trouble for Stock Market

By StevieRay Hansen

The following article by David Haggith was published on The Great Recession Blog: Bloomberg reported this week that thirteen US companies (in the 50-million-plus size) filed for bankruptcy…

Read More

Who Is The Next Wirecard?

By StevieRay Hansen

Now that the multi-year saga of German fintech megafraud Wirecard is finally over, the pain is only just starting for disgraced German regulator BaFin (with…

Read More

COVID-Comeback Batters Big-Tech & Black Gold, Sparks Bond Bid

By StevieRay Hansen

Just when you thought it was safe to buy any stock – selected at random via Scrabble letters – on any dip, with levered money…

Read More