Posted on 05/21/2014 9:57:34 AM PDT by SeekAndFind
SHANGHAI (AP) — China signed a landmark deal Wednesday to buy Russian natural gas worth about $400 billion, giving a boost to diplomatically isolated President Vladimir Putin and expanding Moscow's ties with Asia.
Price negotiations on the 30-year deal continued into the final hours of a two-day visit by Putin to China, during which both sides had said they hoped to sign an agreement.
Putin was in Shanghai for an Asian security conference where China's president called for a new model of Asian security cooperation based on a regional group that includes Russia and Iran and excludes the United States.
The gas deal gives Moscow an economic boost at a time when Washington and the European Union have imposed visa bans and asset freezes on dozens of Russian officials and several companies over Ukraine. It allows Russia to diversify its markets for gas, which now goes mostly to Europe.
The agreement "opened the door for Russia to enter into Asia's gas market," said Keun-Wook Paik, senior research fellow at the Oxford Institute for Energy Studies.
Politically, the deal has provided "a breathing space for Russia," Paik said. "Russia, and Putin, can demonstrate it's not completely isolated because of the Ukraine crisis. Russia has demonstrated that they have a very reliable strategic partnership with China."
(Excerpt) Read more at bigstory.ap.org ...
India about to ink as big a deal.
IF the trade is done in an alternate currency and that currency has tight regulations and controls then it`s the end of the USD reserve status.
Obama`s plan of destroying the USA on track to success .
When Obummer travels overseas, it looks like a trip to Disneyland. He always has Mother in law, Wife and children in tow.
Contrast that with Putin. When he goes anywhere, he brings results.
What a difference in leadership!!!!!!!!!!!
IF the trade is done in an alternate currency and that currency has tight regulations and controls then it`s the end of the USD reserve status.
.............
not likely.
the dollar has been going sideways for years. downward pressure on the dollar by QE’s is met by upward pressure on the dollar by rising US oil production.
The QE’s are being phased out but US oil production is still rising.
the next direction of the dollar is up.
central bankers around the world have many billions of dollars as their reserve currency. they’re not going to sell dollars when the dollar is rising.
With all the US companies looking to leave China all that natural gas may not be necessary.
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