in ,

Vladimir Putin instructs government to stop using US dollar at Russian seaports

Putin orders to end trade in US dollars at Russian seaports.

As US President Trump took the podium at the UN to deliver a speech warning the entire planet that American hegemony was back and stronger than ever, the rest of the world continues to move away from the US dollar…in what will be a slow, but fatal final blow to American global dominance.

China, Venezuela and now Russia are picking up the pace to ditch the USD and become free from American overreach.

Via RT

Russian President Vladimir Putin has instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, according to the Kremlin website.

To protect the interests of stevedoring companies with foreign currency obligations, the government was instructed to set a transition period before switching to ruble settlements.

According to the head of Russian antitrust watchdog FAS Igor Artemyev, many services in Russian seaports are still priced in US dollars, even though such ports are state-owned.

The proposal to switch port tariffs to rubles was first proposed by the president a year and a half ago. The idea was not embraced by large transport companies, which would like to keep revenues in dollars and other foreign currencies because of fluctuations in the ruble.

Artemyev said the decision will force foreigners to buy Russian currency, which is good for the ruble.

In 2016, his agency filed several lawsuits against the largest Russian port group NMTP. According to FAS, the group of companies set tariffs for transshipment in dollars and raised tariffs from January 2015 “without objective grounds.”

The watchdog ruled that NMTP abused its dominant position in the market and imposed a 9.74 billion rubles fine, or about $165 million at the current exchange rate. The decision was overturned by a court in Moscow in July this year.

Via Zerohedge

Whether in response to rising scorching tensions with the US, or simply to provide support for the ruble, on Tuesday Russian President Vladimir Putin instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year.

*****

While Russia’s stated motive for the unexpected redenomination of trade at some of its largest trading hubs has to do with domestic economic policies, there is speculation that the timing of this decision has been influenced by the recent diplomatic fallout between the US and Russia, the result of which would be an heightened demand for the ruble, especially since it is rather complicated to find alternative sources for Russia’s largest export by a wide margin: crude.

And while it is still early to discuss whether Moscow has launched the “Petrorouble”, Putin’s rejection of the Petrodollar in yet another aspect of economic life will raise quite a few eyebrows around the globe.

Liked it? Take a second to support The Duran on Patreon!

Report

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.

What do you think?

64 points
Upvote Downvote

Leave a Reply

avatar
  Subscribe  
Notify of
Ronan
Guest
Ronan

Better late than never. He should have done this a long time ago.

7.62x54r
Guest
7.62x54r

There are globalist oligarchs in the Russian government, too. Such a move is easier said than done.

santiago
Guest
santiago

Not to mention a SYSTEM of international payments, SWIFT, which is the main problem with de-dollarisation, not the oligarchs and/or Fifth column.

So tell me even if there were no Oligarchs how would a khazakstani company transfer, let’s say the value of 2 million USD without using such international inter banking system?

Isabella Jones
Guest
Isabella Jones

If he could have done it, he would have done it. He explained long ago “.. we will become another reserve currency,, but this has to be slowly like a chicken picking at seeds, took took took” {Almost my favourite video 🙂 }
To assume you know better than the man with a Ph.D. in economics, a degree in law majoring in International Law, access to vast intel and access to every adviser around is being a tad daft, don’t you think?

GabrielleTEllington
Guest
GabrielleTEllington

Google is paying 97$ per hour,with weekly payouts.You can also avail this.
On tuesday I got a great new Land Rover Range Rover from having earned $11752 this last four weeks..with-out any doubt it’s the most-comfortable job I have ever done .. It sounds unbelievable but you wont forgive yourself if you don’t check it
!si297:
➽➽
➽➽;➽➽ http://GoogleDailyNewsSilverUpdateWorkFromHome/find/jobs ★✫★★✫★✫★★✫★✫★★✫★✫★★✫★✫★★✫★✫★★✫★✫★★✫★✫★★✫★✫★★✫★✫★★✫★✫:::::!sf257..,..

Ronan
Guest
Ronan

You assumed correctly about me! He certainly could have done it,but was under dilusions of grandeur…! The West has room for only one autonomous power. There’s no room for a second.

Isabella Jones
Guest
Isabella Jones

IF THERE IS ONE AFFLICTION THAT HAS NEVER, AND WILL NEVER, AFFLICT VLADIMIR PUTIN, IT IS DELUSIONS OF GRANDEUR.

Norman
Guest
Norman

That’s the West’s mistake and problem, not Putin’s. If anything it’s America that’s under dilutions of grandeur.Can you feel the winds of change blowing, softly for now, gathering in strength to blow you away?

lickeyleaks
Guest
lickeyleaks

If this means an upgrade of poor russian people and eventually poor american people then I for one will be all for it,at least Putin is trying,Trump is not !!

Isabella Jones
Guest
Isabella Jones

What we believe it must mean is that the American Empire will go into freefall collapse and the Hegemon will be unable to wage war on defenceless brown people who have the temerity to think they are a sovereign people and will live for their own people and children and not the 1% Dark State and Hegemonic twits like Haley.

ruca
Guest
ruca

Dare to dream. Yet things will probably get very dirty.

Isabella Jones
Guest
Isabella Jones

Yes, I agree with you. Unless the ending of the Hegemons is very very fast, giving them no time to react, [i.e. meteor strike] I too think that, given time to throw the temper tantrum of all time, they well might make things very dirty.

Seán Murphy
Guest
Seán Murphy

Like, perhaps, nuclear dirty? I wouldn’t put it past them.

7.62x54r
Guest
7.62x54r

The US continues to militarize eastern Europe, Japan, the South China Sea shipping lanes and South Korea. US nukes will be in SK soon. The US commands SK’s military. Russia and China will have to defeat the US one way or another.

Isabella Jones
Guest
Isabella Jones

Not really they dont you know. Take a look at a very good article on Dmitry Orlov’s blog site showing just how hollow the house of cards known as USA is.

Brian De Paolo
Guest
Brian De Paolo

Question…if the US buck drops and countries sovereign money is created…backed by gold or a commodity…would the US military industrial complex accept US bucks….or the Yuan…seeing there is no value in a fiat currency…what would happen….

S.M. De Kuyper
Guest
S.M. De Kuyper

From De Kuyper & Zoon Genever 1694 The action of President Putin was because he was uninvited by US President Trump after Trump explained all he had countries invited would be required to sign a document explaining, I suppose, the UN reforms the United States finds enthralling. President of the Russian Federation then said he had no interested in joining them. Diplomacy is vital art. Trashing it is unwise. The US Dollar may now be dead.

santiago
Guest
santiago

LOL….nope, Putin is not a pedant child like Trump’o.

This has been coming, I don’t see how this was unexpected since Russia and China are formally launching their own SWIFT like service and entity. It is expected that by 2020 China, Russia, and others will seize to trade internally with the USD and use their own currencies plus Yuan (at first, then the Rubble) as reserve currency, which will force anyone doing trade with them to use the system as well

Isabella Jones
Guest
Isabella Jones

Ahhhh. Wonderful news. The door is closing on America, shutting it out, slowly but surely. Excellent stuff.

Rex drabble
Guest
Rex drabble

Dropping the dollar is the ONLY way to stop the US and it will be done.

Le Ruse
Guest
Le Ruse

Well, IMHO accumulating US$ is like accumulating Weimar Deutschmark in the 20’s ??

Putin's baby
Guest
Putin's baby

As below, Took, Took Took. Slow, but inevitable end to the us of israel. Hooha!

Ian Shears
Guest
Ian Shears

Well it seems there is no reason for US dollars to be in use.

BREAKING: Turkish President Erdogan condemns Kurdish separatism

3 dumb Democrats say “Sputnik Radio” crushed Hillary’s campaign. “Sputnik Radio” started broadcasting June 2017