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Russia’s Oil Giant Rosneft Ditches US Dollar

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Russia's Oil Giant Rosneft Ditches US Dollar

IMAGE: Reuters

Russia’s oil giant Rosneft is ditching US dollar. Russia’s Rosneft has set the euro as a default currency for all its new export contracts. This includes crude oil, oil products, petrochemicals and liquefied petroleum gas contracts.

Reuters reports:

“The switch from U.S. dollars, which happened in September according to the tender documents published on Rosneft’s website, is set to reduce the state-controlled firm’s vulnerability to potential fresh U.S. sanctions.

Washington has threatened to impose sanctions on Rosneft over its operations in Venezuela, a move which Rosneft says would be illegal.

Rosneft did not immediately reply to a Reuters request for comment. Rosneft is Russia’s top oil exporter, shipping abroad about 120 million tonnes of oil a year, or 2.4 million barrels per day.

“Rosneft has recently adjusted all the new contracts for export supplies to euros. We’ve been notified,” a trader at a company regularly buying from Rosneft told Reuters.

Reuters previously reported that Rosneft has turned to euros in its oil products sales.

According to three traders, Rosneft has named the euro as the default currency in all new contracts for its export sales starting from September.

As benchmark oil prices are quoted in dollars, Rosneft asks buyers to use the euro/dollar exchange rate published by Bloomberg one day prior to the set payment day, according to tender documents.”

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  • Saddam Hussein

    Arab countries should do the same and trade in their local currency or the Euro and British pound.

    • Zionism = EVIL

      Not as long as Saudi shitheads and Emirati pimps remain slaves to the Jews.

    • Real Anti-Racist Action

      The British pound and the UK-empire is what set all of these problems into motion in the first place.
      You cannot ditch the USD but accept the British pound and expect things to change.
      The British pound must also be ditched.

  • AJ

    So Russia, Iran, Venezuela are all selling outside the dollar now, if China as the biggest oil purchaser can put pressure on the Saudis it would be toast for the petrodollar

    • Zionism = EVIL

      China has the most cards and can ruin the deadbeat Americunt economy by dumping the dollar and dis-investing in bankrupt treasury bonds. At this stage it is quite linked with western Bilderberg Jew corporations but China is beginning to see the ultimate Americunt/Anglo/Zionist agenda to weaken and destroy China, albeit too late for these delusional arseholes to “contain” China..

      • Harry Smith

        It can not be done fast. China first needs to build new markets for Chinese products. The way and belt project is all about it. But slowly, step by step, they are marching to the initial target.

        • Zionism = EVIL

          Good sound points. China also needs active disinvestment from the Americunt market which is in poor house anyway. China should also focus on India which has a 300 million people middle class and slated to be the #2 economy. China’s clout in Africa is also growing.

          • Harry Smith

            India is a very hostile state to China. Chinese wanted to penetrate into the Indian internal market, but Modi closed them most of the opportunities. On other hand, if actively sell US treasuries it could crush the treasuries market and Chinese won’t return their assets in full. So it is very slow but inevitable way to the USA collapse. But Trump catalyzing the process.

  • Zionism = EVIL

    Every self-respecting country need to dump the Jew bloodlust tainted Americunt toilet paper dollar. The dollar dumping is having a snowball effect.

    • frankly

      I think they are understating how far along this project is to slow it down, it could snowball and then look out.

  • verner

    will be interesting to see if the friggin norwegians dare to follow suit – there is no particular reason for oslo to maintain the dollar in their oil-trading but they are, after all, holding the northern flank for nato (and stoltenberg is from norway) and are hell bent on the america first concept. so the answer is no! will be difficult for those oil companies supplying from both Russia and from the North Sea, one in € and the balance in $$ make an omlette of the hedging operations

    • George King

      There is a very significant difference between Norway and Russia in wealth reserves. Russia has turned to gold reserves and little debt, Norway is predominately fiat currency reserves. This will be Norway’s achilles heel and comparisons to Russia’s future verses Norway’s is Norway’s faux pas yet to reveal itself..

      • verner

        but even if Norway for some inexplicable reason wanted to fall back on the €, the us would never allow it. Nato, northern flank, special forces in the north or with other words, the special relationship existing between the countries.

        • George King

          Norway will have no real choice in this as events over take the collapse of the unilateral hegemony to realities in the market place. Geo political fear mongering (the sole reason for NATO is enforcement of status quo not defense as advertized) will either take a back seat or fade into the past dustbin of history.

  • Redadmiral

    And Not Before Time. This is far more serious for the Yanki cabal than their “sanctions” have ever been against Russia and others. This brings so much closer the complete collapse of their Empire predicated on the petro dollar. Gadaffi is starting to laugh from his grave, cause he now knows the seed he sowed all those years ago is growing at apace.

    • Zionism = EVIL

      You are right, Kaddafi and Saddam both tried, but were killed as they could not garner enough support and had small nations, but the new multipolar world has many large strong nations with real economic power, China being #1 but don’t underestimate Russian strategic power and growing influence, without Russian military assistance and technology transfer China would have no modern airforce or missile systems.The Russian SU-30/J11 have tilted the military balance in China’s favor.

  • Selbstdenker

    Gazprom will follow soon. With such move the value flow bypasses the US, which will be felt in the US economy and its banking system. It’s the beginning of the end.

    • You can call me Al

      Rosneft is 19.? something BP (British)

      • AM Hants

        Partnership with Rosneft
        BP is one of the biggest foreign investors in Russia.

        The first and the most important focus area of BP’s business in Russia is a 19.75% share of Rosneft. BP nominates two representatives to Rosneft’s Board of Directors: BP CEO Robert Dudley and Guillermo Quintero, former BP President for Latin America… https://www.bp.com/en_ru/russia/home/who-we-are/partnership.html

        • Tommy Jensen

          Plus US owns Rusal Siberia global aluminium.
          If Russia is shifting to Euro, it looks like the whole geo-political game is managed from London.
          The Queen and the British Empire of Common Wealth countries breaks down its sucked up US vasal to more lucrative countries in the East!?

          • BMWA1

            Is Rusal really sold-off Tommy? Serious question this time.

          • Tommy Jensen

            Here is a good one. Rusal Chairman former UK Clima minister operating inside Russia with the usual globalist projects.
            https://aluminiuminsider.com/en-group-joins-business-ambition-for-1-5c-movement/
            So now we have China in the Board of BIS, Blackwater to supervise OBOR, and a UK Lord and former minister as RUSAL Chairman making clima bs and globalist projects inside Russia like flies around Caspian Sea.
            China invited to invest in Rusal as well with goodwill and approval from US Treasury.

          • BMWA1

            Registered HQ in channel islands. UK. Ops in Moscow.

          • AM Hants

            Allegedly BREXIT, was allowed to go ahead, purely in order to protect the City of London, who had the clearing houses for the Yuan.

            US tried to steal the aluminium consortium of Deripaska’s, but, it did not work out now did it? Deripaska was forced to stand down, from the En Group, which owned 49% of Rusal. Isn’t Deripaska now a citizen of Cyprus, since 2017?

            BUSINESS NEWSMAY 16, 2018 / 12:06 AM / A YEAR AGO
            How Rusal escaped the noose of U.S. sanctions… https://www.reuters.com/article/us-usa-sanctions-rusal-insight-idUSKCN1IG3G6

            The Brexit reshuffles world geopolitics
            by Thierry Meyssan… https://www.voltairenet.org/article192607.html

          • Tommy Jensen

            UK Lord Barker sits as Chairman.
            Zyuganov Communist Party was the only one objecting against the privatisation and new sell out of Russias resources to foreign Investors.
            https://kprf.ru/party-live/cknews/185113.html

          • AM Hants

            Has there been a conclusion to the court hearings?

            Where does it state that Rusal is now under the ownership of the US and UK?

          • Tommy Jensen

            Not directly. Its puzzles. The end of it is that Rusal is no more a Russian company but an International private owned company with British Lords and other Western banker networks in the Boards mixed up with Russian oligarch shares.
            Sorry, only the big picture interest me here, not the details.

          • AM Hants

            Thanks and interesting.

          • Harry Smith

            Come on Tommy! Do not trust commies! It’s common sense! Zyuganov was hardly sponsored by oligarch Khodorkovsky. KPRF has biggest share of millionaires in the Russian State Duma. Zyuganov’s son is hardly connected with Russian wood exports. Believing what commies say is like believing to CNN.

          • Tommy Jensen

            Havent seen that excellent article from Voltaire thanks. Thierry is a one and lonely, he is incredible, straight through all the smog, always 5-10 years ahead of everybody.

          • AM Hants

            At the same time, there was another article, which went with the above and focused on India and Pakistan joining the SCO. Whilst linking into the City of London and Brexit article.

            Brexit coincides with India’s and Pakistan’s entry into the SCO
            by Alfredo Jalife-Rahme
            Professor Alfredo Jalife-Rahme, reputed to be a leading Latin American expert in geopolitics considers that the UK exiting the EU at the same time India and Pakistan become members of the Shanghai Cooperation Organization (OCS) is an acid test, proving that the world is alive. De-globalization is at work… https://www.voltairenet.org/article192705.html

          • Tommy Jensen

            Maybe.
            But why are SCO members into the Green Clima International Banker bs then?
            We have 31000 US real Scientists and latest 500 real scientists from various sending a letter to UN stating the obvious that Green Clima bs don’t have any Scientific basis.
            Are Russia and China in because International finance punish them if they dont bend over? I don’t see any political system on the planet saying the obvious.

        • BMWA1

          BP profits through Russia are a big part of the pension pay-off in Britain.

          • AM Hants

            Thought Brown fleeced our pensions schemes, around the time he was selling out gold, for rock bottom prices.

  • alejandro casalegno

    All operations against the dollar were a total failiure…………….this will be succefull??….
    .will see……………………..

  • You can call me Al

    Could you please sort my log on SF – this is really pissing me off. I have to re-log on every article.

    • Joe Kerr

      FB is now trying to get proof of ID (e.g. passports) before allowing to post, so better to avoid this CIA cesspool and try another method.

      • frankly

        Use discuss had same issue.

      • Harry Smith

        Move to vk.com. BTW, if anybody from SF read it, please add some Russian social media accounts to authorize. Like vk.com or mail.ru. Or maybe even Telegram.

    • frankly

      I was getting that too, seems to have stopped.

    • Redadmiral

      I too had that problem Al, it lasted for over a year. I got a kinda work around when I downloaded and installed “Last Pass”. Once you have logged into Last Pass it logs you in to the next article all you have to do is press OK. Still a bit of a nuisance but better than the alternative. After that came “detected as spam” or “pending”, which really drove me nuts. I seem to be getting a clear run at present. Hope I haven’t put a jinx on myself by posting this. Lol

  • Tommy Jensen

    America has never lost a battle since its start 300 years ago and America will also win this battle, as we are a nation of winners!
    Whether Russia use dollares or Euro is the same. America also own and controle Euro puta………..LOL.

    • BMWA1

      Stony Creek Canada War of 1812 ring a bell?

    • Sparrow

      Don’t know what jew revised history you’ve been reading…truth is the US has lost every war except Revolutionary War of Independence from GB. The only just war there ever was. All the rest have been illegitimate lies including WWII. Time for the fall of empire US and her forever wars for jew insanity.

      • Attrition47

        That was a civil war between slaving bastards and the central government, you antisemite twat.

        • Uncle Meat

          Precisely, or vs the oligarchy which would succeed in forming an empire (disguised as a free republic) cementing their gains, centralizing their power and the rest is history.

        • Sparrow

          Fuck you jew antisemite pos. Jews were the slavers.

        • Sparrow

          Death to the jew antisemites wherever they are. PALESTINE FOREVER

      • Uncle Meat

        Even the Revolutionary War is ambiguous who actually won that war. It’s my understanding (thanks to Russ over at MoA for bringing to light) that there was a counter-revolution ending with the Constitutional Convention (1787-1788) to the new government formed on the heels of declaring independence in 1776. In essence, the debts accrued during the war (particularly the oligarchs here and abroad in Europe, Britain) were made sure to be repaid, the money owed the soldiers who fought with the Continental Army (they got shafted of course but the oligarchy were made whole) and securing an empire for the oligarchy. The people had won but just for a very short time. To think if they had succeeded (was no counter-rev, coup) and this revolution had spread across to Europe (instead of the brutal kind in France around the same time).

        • Sparrow

          Ambiguous…a good word. That would make sense due to the continual British control in the south via slave trade and commodities such as cotton etc. They also supplied the south with military arms to succeed the nation which started Civil War. It would also make sense concluding today’s demise. Thank you for sharing…what makes it worse, if it were true, is the delusion of independence. Trade has been the biggest downfall…with the fruit of greed, slavery, unjust balances, strong arming…the list is long. Ex: if we have so much oil and gas to ‘export’ then why do they turn us taxpayers off in the middle of below-0 deg. if we are late with payment. Terrorist to the core is USA. Looking forward to a final and lasting revolution of this most corrupt nation on the planet…minus the jews and their money god.

    • iosongasingsing

      Not Euro puta, but US is puta of the nazi zion jews.

    • alejandro casalegno

      Vietnam………………asshole………………..Vietnam………………

      • Tommy Jensen

        America had Dr. Manhattan and could have used him but we didn’t for peace. We won again!!

  • iosongasingsing

    Yuan, Euro, Petro, the dollar is seen as the plague.

  • Luke Hemmming

    Someone in Retards (Reuters) needs a new calculator. 120 million barrels a year or 2.4 million a day?????on my calculations if it is 2.4 million a day that works out to be 876 million barrels a year! How do they figure that calculation out?did it include weekends off and public holidays?

    • Pork

      You misread, 120 millions tonnes a year, not barrels.

  • Luke Hemmming

    It doesnt matter whether they use US dollar or euro the money still flows through zionist banking cartels system. The Rothschild banking cartel own and or control most of the world’s largest and most important banking and finance entities including the BIS. So it doest matter the money still flows through them. Same assholes different name.

    • verner

      primary purpose is not to avoid rotchild banks but get out of the dollar-zone. the rest will come once the reserve-currency status of the $ is broken and new means and ways are emerging. which currency will become dominant and which centralbank can direct the stream of payments through which banks. I for example know where one country refused to have anything to do with a major french bank, which cried and cried and promised to be better in the future – the sanctions came after
      some egregious behaviour by the bank, naturally.

  • Brian Michael Bo Pedersen

    Could this be a deal with the EU so they accept the Nord Stream 2 and start slowing down their russofobia?
    If so, this will be countered by even more and even more agressive western propaganda.