Putin's Decision to Shoot for Gold Could Move Global Energy Trade Away from the US Dollar
In a powerful & disruptive move, Russian President Putin will offer a discount to any country that pays for Russian oil w/gold. This will destroy the petrodollar. This move puts pressure on OPEC to do the same. And given how KSA despises Joe Biden, it’s a forgone conclusion where things are headed.
One thing is sure: The Ukraine crisis has given a boost to the idea of moving away from the US dollar in regional trade.
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