De-Dollarization: Russia’s Oil Benchmark Futures to Be Priced in Rubles

De-Dollarization: Russia’s Oil Benchmark Futures to Be Priced in Rubles

Step-by-step Russia, China and other emerging economies are taking measures to reduce their dependence on the US dollar, F. William Engdahl notes, referring to Russia’s crude oil benchmark initiative; the move could deal a dramatic blow to the “petrodollar’s” dominance.

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