You are here
Russia would dump dollar and euro in oil trade with Turkey and Iran
From Russia Today, Moscow
Monday, April 9, 2018
Russian Energy Minister Aleksandr Novak said the country is considering an option of payments for oil in national currencies, in particular with Turkey and Iran.
Novak said both countries are interested but there is also a matter of conversion of currencies and their further use. "There is a common understanding that we need to move towards the use of national currencies in our settlements. There is a need for this, as well as the wish of the parties," Novak said.
... Dispatch continues below ...
Cobalt Blockchain Announces Supply Agreement
for Cobalt Concentrate from DRC Artisanal Mines Co-op
Company Announcement
Friday, April 6, 2018
TORONTO -- Cobalt Blockchain Inc. (TSXV:COBC) announced today that it has successfully negotiated a supply agreement with one of the largest local mining cooperatives in the Lualaba province of the Democratic Republic of the Congo.
Commencing in June 2018, the company will be supplied with a minimum of 40,000 tonnes of cobalt concentrate per year, with a minimum grade of 1 percent cobalt.
"This is a significant milestone in our strategy to generate near-term cash flow," noted Lance Hooper, Cobalt Blockchain president and chief operating officer. "Supply agreements with established mining cooperatives complement our plans for larger-scale, mechanized production activities on mineral concessions in our property portfolio." ...
... For the remainder of the announcement:
https://www.newswire.ca/news-releases/cobalt-blockchain-announces-supply...
He explained: "This concerns both Turkey and Iran. We are considering an option of payment in national currencies with them. This requires certain adjustments in the financial, economic, and banking sectors." ...
While meeting with Russian President Vladimir Putin in November, Iranian Supreme Leader Ali Khamenei said that the best way to beat U.S. sanctions against the two countries was joint efforts to dump the American currency in bilateral trade. He told Putin that by using methods such as eliminating the greenback and replacing it with national currencies in transactions between two or more parties, the sides could "isolate the Americans."
... For the remainder of the report:
https://www.rt.com/business/423564-russia-oil-national-currencies/
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
