Gazprom looks to drop the dollar to avoid sanctions’ bite

Another complete Presidential screw up. O Bumma threatens to withdraw Dollars from Russia.

Putin switches all Gas, Gold, Oil and other contracts to Euros. An already friendless Dollar gets crucified and Putin chokes laughing.

Totally clueless. Muppets!

Now, this dagger to the heart of the USA dollar. Can you imagine the corks popping in France to be rid of the USD in trade settlement? De Gaulle must be laughing in his grave. Imagine what happens if Euro settlement goes for commodities from Russia as well.

Financial Times
By Jack Farchy
7 April 2014

The oil arm of Russia’s state-owned Gazprom is preparing customers to settle contracts in euros rather than dollars as it braces for the possible escalation of US sanctions against Moscow.

Alexander Dyukov, chief executive of Gazprom Neft, told reporters in St Petersburg that the company had discussed shifting contracts to euros with its customers. “Practically all – 95 per cent of our customers – confirmed their willingness to move to settlement in euros,” he said.

The discussions reflect the growing fear among larger Russian companies that they could soon come into the cross-hairs of US and European sanctions that have so far targeted wealthy individuals and a single mid-sized bank – Bank Rossiya.

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