Putin: Russian Economy Won’t Be Dominated by ‘Dollar Dictatorship’!

• Putin: Russian Economy Won’t Be Dominated by ‘Dollar Dictatorship’! 
  by http://sputniknews.com/ 
  Russia is leaving the dictatorship of the market where oil goods are based on the dollar and won’t back down in face of a drastic drop in world prices on energy resources, Russian President Vladimir Putin said Friday.
  –
  MOSCOW, November 14 (Sputnik) – Russia plans to leave the “dollar dictatorship” of market oil prices and turn to using the country’s national currency and the Chinese yuan, Russian President Vladimir Putin said Friday.
  –
  “We are leaving the dictatorship of the market where oil goods are based on the dollar and will increase the possibilities of using [other] national currencies: the ruble and the yuan,” Putin said in an interview with the Russian state news agency TASS.
  –
  On a November 9 meeting on the sidelines of the APEC summit Putin and Chinese President Xi Jinping discussed the possibility of using the yuan in transactions in fields of mutual cooperation.
  –
  Putin said in his Monday speech at the Asia-Pacific Economic Cooperation (APEC) summit in China that accounting in the ruble and yuan will most likely weaken the dollar’s influence on the global energy market.
  –
  Putin added that possibilities to increase the use of the Russian and Chinese currencies in bilateral trade, particularly in the energy sector, were being studied.
  –
  Russian Economy Unthreatened by Possible Drastic Drop in Energy Prices
  Russian authorities have not excluded the possibility of a drastic drop in world prices on energy resources but are still prepared to uphold the country’s social obligations and economy, Russian President Vladimir Putin said Friday.
  –
  “We’re considering all of the different scenarios, including a so-called catastrophic drop in the prices of energy resources, which is completely possible, we acknowledge this,” Putin said.
  –
  read more!

end