US-RUSSIA: Memo Suggests Potential Return To Dollar System - Bloomberg
Feb-12 14:19
Bloomberg reports on a internal Russian document, which includes excerpts on "Russia’s return to the dollar settlement system, including possibly for Russian energy transactions".
Highlights from the report:
- "The Kremlin has set out proposals that could see Russia embrace the dollar again as part of a wide-ranging economic partnership with the Trump administration, according to an internal Russian document reviewed by Bloomberg."
- "The high-level memo, which was drafted this year, details seven points where, in the Kremlin’s view, Russian and US economic interests could converge following a deal to end the war in Ukraine. It sees the two countries working together to champion fossil fuels over greener alternatives as well as joint investments in natural gas, offshore oil and critical raw materials plus windfalls for US companies."
- "At the heart of the offer is Russia’s return to the dollar settlement system, a move which would mean a stunning reversal of Kremlin policy and, potentially, a dramatic shake up for global finance."
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