Tuesday, May 31, 2022

The Sanctioned Ones: How Iran-Russia are setting new rules — Pepe Escobar

The first Eurasia Economic Forum, held last week in Bishkek, Kyrgyzstan, should be regarded as a milestone in setting the parameters for the geoeconomic integration of the Eurasian heartland.

Sergei Glazyev, Russia’s Minister in Charge of Integration and Macroeconomics of the Eurasia Economic Union (EAEU), is coordinating the drive to design an alternative monetary-financial system – a de facto post-Bretton Woods III – in cooperation with China.

According to Glazyev, the forum “discussed the model of a new global settlement currency pegged to baskets of national currencies and commodities. The introduction of this currency instrument in Eurasia will entail the collapse of the dollar system and the final undermining of the US military and political power. It is necessary to start negotiations on signing an appropriate international treaty within the framework of the SCO.”

Glazyev described the initiative to upend the western global financial system in more detail during an exclusive interview with The Cradle in April.…
The Cradle
The Sanctioned Ones: How Iran-Russia are setting new rules
Pepe Escobar
https://thecradle.co/Article/columns/11133

See also

ECNS (Chinese official English news service)
Xinhua (Chinese state media)

Brave New Europe
Eurostat: Euro area annual inflation up to 8.1%
https://braveneweurope.com/eurostat-euro-area-annual-inflation-up-to-8-1

Oilprice
How The Ukraine War Completely Upended Global Crude Flows
Tsvetana Paraskova
https://oilprice.com/Energy/Crude-Oil/How-The-Ukraine-War-Completely-Upended-Global-Crude-Flows.html

Yahoo Finance
Europe lurches closer to energy crisis as Kremlin cuts off gas supply to Shell
https://finance.yahoo.com/news/europe-lurches-closer-energy-crisis-183457904.html

1 comment:

Peter Pan said...

Don't let the gold bugs bite.