SANCTIONS BY U.S. AND EU CREATES RECORD CURRENCY TRADE BETWEEN RUSSIA AND CHINA

by Kenneth Schortgen Jr and Fourwinds10

As the Western led economic sanctions by the U.S. and Europe create ever increasing hardship on the Rouble and Russian economy, the Eurasian power continues to look Eastward as currency swaps with China are at new record levels in the month of October. In a report on Nov. 6 by the Moscow Stock Exchange, direct exchange of currencies between the primary BRICS nations are up 80% month-on-month, and show the extent of the increasing reliance between emerging market countries as Western led governments use economic warfare to pressure Russia into capitulating on issues such as Ukraine and Syria.

Earlier this year, several key agreements were made between the Eastern economic powers to begin the slow process of divesting their financial reliance away from the dollar and U.S. controlled systems. In September, Russia began a new initiative where they would sell oil on the open market in currencies other than the dollar, and support the global exchange of both the Rouble and the Yuan. And just last week, China opened for business the new Asian Infrastructure Investment Bank (AIIB) with the purpose of creating an alternative to the World Bank and IMF, and help borrowing nations function outside the dollar and U.S. hegemony.

Donate With Bitcoin

13s7mSq6SdRv5YUbWfxUWi68AYxWQpSC5u
Donate and help this website Scan or Copy & Paste