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Published on Gold Anti-Trust Action Committee (http://gata.org)

Venezuela hopes to create non-dollar trading bloc

By cpowell
Created 2019-02-13 00:44

By Nidhi Verma and Promit Mukherjee
Reuters
Tuesday, February 12, 2019

NEW DELHI, India -- Venezuela hopes to create a trade bloc consisting of China, India, and Russia to help the South American country settle oil payments in currencies other than the dollar, its oil minister said today.

The strife-torn country is looking for alternative payment methods to keep oil flowing to India, a crucial export market, especially after the United States imposed sanctions curbing the OPEC member's crude exports to the United States.

... Dispatch continues below ...


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"We all can build one economy and that economy does not necessarily have to be within the dollar economy," Manuel Quevedo said, referring to China, Russia, and India. ...

... For the remainder of the report:

https://www.reuters.com/article/us-india-oil-venezuela/venezuela-hopes-t... [2]

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Source URL:
http://gata.org/node/18865