Western policy is forcing Russia to converge faster with China. It affects American mining companies producing shale gas , “Nur.kz” reports.
USA are pushing Russia and China to the creation of common currency
Strengthening of Russian-Chinese relations have already weakened the dollar, because these countries have abandoned its use in the bilateral trade. Sooner or later there will come a day when Russia and China announce the creation of common currency – so they believe in The Most Important News publication.
Now Russia is fighting for survival of its economy, and China decided to help, the magazine writes. Representatives of China announced that they would increase trade volume with Russia in Yuans, completely abandoning USD.
The publication notes that in the period from July to October 2014 the volume of foreign exchange transactions without using US dollar between Russia and China grew by 2,400% from the amount equivalent to USD 52 million to USD 1.2 billion.
The Russian President Vladimir Putin began trying to get away from the US currency in trade with China after Western countries led by the United States imposed sanctions on Russia. “We are moving away from the dictate of the market, which denominates all trade flows of petroleum in US dollars,” – Putin said.
The Most Important News writes that the Moscow Currency Exchange opened trading in Ruble-Yuan pair as early as 2010, but this did not arouse any interest among Russian companies until October of this year. Moreover, MCE has now signed an agreement with the Bank of China and is negotiating with the Chinese authorities to provide new services to investors in the Chinese and Russian markets.
In the meantime, the publication notes that while the US continue to boast the “destruction” of the Russian economy at the expense of their shale gas producers, Russia and China are getting ever closer.
“And one day, as many have long predicted, they will announce appearance of common currency, backed by “unexpectedly large” gold reserves of China and Russia’s raw stock. And this will be a beginning of very interesting events” – The Most Important News believes.
