Tag Archives: Dollar

Yuan oil contracts to strengthen China's currency status to compete with US dollar – analyst

As more countries pay for oil in yuan, the standing of the Chinese currency in global finance has grown, an analyst tells RT. However, its future path won’t be completely smooth, he warns. “If people started to pay for oil in yuan, central banks would need to hold reserves in yuan, leading to a massive increase in the global demand ...

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Which countries are dumping the dollar and why?

The European Union is considering switching payments from the US dollar to the euro after Washington threatened to target European firms working in Iran, according to reports. The measure may help the EU to retain one of the world’s largest markets, which was opened for trade after the historic nuclear deal signed by Tehran and the P5+1 powers (China, France, ...

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Europe & Iran now have the perfect excuse to drop the US dollar – Max Keiser

The re-imposition of US sanctions on Iran and Washington’s threat to punish European companies for doing business there provides a good opportunity for ditching the dollar, according to RT’s Keiser Report host, Max Keiser. “The US uses the dollar as a weapon to promote US dollar hegemony and the US Empire. The world now sees clearly that the US dollar ...

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Europe to ditch US dollar in payments for Iranian oil – source

The European Union is planning to switch payments to the euro for its oil purchases from Iran, eliminating US dollar transactions, a diplomatic source told Sputnik. Brussels has been at odds with Washington over the US withdrawal from the Iran nuclear deal, which was reached during the administration of Barack Obama. President Donald Trump has pledged to re-impose sanctions against ...

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China’s petro-yuan ‘thundering into action’ as Iran ditches US dollar in oil trade

Washington’s renewed sanctions on Tehran supports China’s newly established oil futures, analysts say. The sanctions can make the yuan a more preferable currency than the dollar on the oil market. Since their launch in May, the interest in the renminbi-backed oil contracts has steadily surged. Traded daily volumes hit a record 250,000 lots last Wednesday, and the share of yuan ...

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Skyrocketing US debt can’t be supported by dollar printing forever, crisis may be coming – analyst

Living with ever-growing debt, which has passed $ 21 trillion, has become a trademark of the US economy. RT asked an analyst how long this can continue without serious problems for the world’s largest economy. US Treasuries and US foreign debt have long been supported by the dollar-printing machine, and this support may be ending, according to TeleTradeBel analyst Mikhail ...

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Iran drops the dollar. Others tried and were bombed. 'It's all about the banking,' says Lee Camp

Iran recently announced it is dropping the US dollar in foreign trade. Just as Iraq did shortly before it was invaded by the US, or Libya planned to before it was bombed by NATO-led allies. Lee Camp is starting to see a pattern. The US is gearing up to abandon the Iran nuclear deal, which has all but killed Tehran’s ...

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China urges ditching dollar & euro trade with Russia in favor of national currencies

There is no need for Russian and Chinese businesses to pay each other in dollars and euros, when they can settle in rubles and yuan, according to Zhou Liqun, chairman of the Union of Chinese Entrepreneurs in Russia. Read more “The leaders of the two countries should think over improving relations, especially in financial cooperation. Why make payments with foreign ...

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Gold rise, dollar fall & cryptocurrencies shaking up financial system – watch RT’s Keiser Report

Max Keiser and Stacy Herbert of RT’s Keiser Report discuss a possible rally in gold prices, accompanied by a weaker US dollar. They also discuss the perspectives for the global economy, which is set to grow in the next two years at the fastest pace in two years, but is predicted to cool down in 2020. In the second part ...

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Iran dumps dollar for euro in foreign trade transactions

As part of its years-long effort to reduce reliance on US currency amid a deepening standoff with Washington, Tehran has announced it will start reporting foreign currency amounts in euros rather than dollars. The governor of Iran’s central bank (CBI) Valiollah Seif said that Supreme Leader Ayatollah Ali Khamenei had welcomed his suggestion of replacing the dollar with the euro ...

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