The authorities of the Kingdom of Saudi Arabia consider a possibility to abandon the US dollar as the main currency in payments for Saudi oil. Riyadh may make such a decision in the event the United States passes a new law to ban the Organization of Petroleum Exporting Countries, OPEC. High-ranking Saudi officials in charge of the energy sector have been discussing the prospect of waiving the US dollar... 

The gradual acceptance of digital currencies, with major exchanges about to launch bitcoin futures trading, may prompt some oil producing nations to ditch the US dollar in crude trade in favor of cryptocurrencies, an oil analyst says. Russia, Iran and Venezuela have more than one thing in common. All three are major oil producing nations dependent on the dollar since the global crude market is traditionally... 

Russia’s activity in the Asian region may undermine the world financial domination of the United States. Russia has recently concluded major oil and gas contracts with leading Asian countries. According to the South China Morning Post, Russia’s ambitious gas projects in the Far East may trigger a sharp decline in the volume of US oil and gas contracts with Tokyo and Beijing. A change in... 

A somber Ministry of Foreign Affairs (MoFA) report circulating in the Kremlin today is advising all diplomatic personal that due to the success of the “war party” elections held in the United States this past week, this once constitutional republic should now be viewed as having become an Oligarchy—a form of power structure in which power effectively rests with a small number of people. According... 

Is the petrodollar monopoly about to be shattered? When U.S. politicians started slapping economic sanctions on Russia, they probably never even imagined that there might be serious consequences for the United States. But now the Russian media is reporting that the Russian Ministry of Finance is getting ready to pull the trigger on a “de-dollarization” plan. For decades, virtually all oil and... 

An ominous new report prepared by the Ministry of Finance (MoF) on President Putin’s order yesterday to accelerate the opening of the St. Petersburg Exchange (SPE), where prices for Russian oil and natural gas will be set in rubles instead of US dollars, is warning that this “catastrophic blow” to the petrodollar amounts to nothing less than “all-out war” against the West and that an “Armageddon...