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

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Trade based on American values runs counter to basic economic laws: Chinese FM [Wang Yi]

Xinhua (Chinese state media)

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