Tag Archive for How will Russia counter low oil prices

The Demise Of Dollar Hegemony: Russia Breaks Wall St’s Oil-Price Monopoly

Just as I warned earlier this week, it appears Russia is moving to debase the Petro-Dollar, which would fundamentally destroy the quality of life Americans enjoy today.

http://www.zerohedge.com/news/2016-01-12/demise-dollar-hegemony-russia-breaks-wall-sts-oil-price-monopoly

Russia has just taken significant steps that will break the present Wall Street oil price monopoly, at least for a huge part of the world oil market. The move is part of a longer-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, today the Achilles Heel of the Russian economy.

Reposted from Zerohedge.com; Submitted by William Engdahl via New Eastern Outlook