Commodity Trade Mantra

Posts Tagged ‘Vladimir Putin’

Is Putin’s Support For An OPEC Freeze A Game Changer for Crude?

The array of comments from OPEC and Russian officials over the past week could signal that a real effort might be underway to reach a deal on freezing production. Iraq would support a deal; Iran will attend the meeting & the potential for an OPEC deal received an endorsement from a surprising source – Russian President Vladimir Putin threw his weight behind a production freeze.

Gold, Oil, & 'Grandmaster' Putin's Trap

It is important to keep in mind that the dollar’s attacks on gold end always end the same way – in a painful knockout for the dollar. It would be naive to believe that this is unknown to that grandmaster of patience, Vladimir Putin. By systematically increasing their gold reserves, Russia and China are relentlessly moving forward to strip the US dollar of its status as a global reserve currency.

China’s Silk Road Economic Project Will Include Gold

It was first disclosed by Albert Cheng, Managing Director of World Gold Council, in a speech Apr 12, 2015; China has ambitions to include gold in the One Belt One Road (OBOR) economic project. His proposal suggested that cooperation & development mechanism to involve major gold producers/users along the OBOR.

Record Global Oil Demand: Even As Price Of Oil Declined

There are many opinions as to why the price of oil has fallen more than 50% in the past four months. There is this notion put forth by the media that a decline in global oil demand caused the huge drop in the price of oil. Ironically, according to the IEA, global oil demand is higher than ever. Let’s take a look at the situation.

Why Russia Will Halt the Ruble’s Slide and Keep Pumping Oil

Fall of the ruble has accompanied a precipitous decline in oil prices. Russia, a resource-based economy, is hurt by oil weakness. But oil is traded nearly everywhere in US dollars, which are presently enjoying considerable strength. Russia can sell their oil in dollars but pay their expenses in devalued rubles & make capital improvements.

Voices Grow Louder To End Reserve Status Of The US Dollar

“What was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles.” Jared Bernstein urged that, “To get the American economy on track, the government needs to drop its commitment to maintaining the dollar’s reserve-currency status.”

One Of Largest Russian Gold Miners On Verge Of Bankruptcy

Russian gold producer Petropavlovsk, was valued at more than $3 billion four years ago and was a potential candidate to move into the coveted FTSE100. But today the firm is now worth just $60 million and is in a perilous financial situation, with speculation it may even default on $310 million in convertible bonds in February.

Russia Iran Sign Historic 500,000 Barrel A Day Oil Deal - Petrodollar Under Threat

Russia signed a historic $20 billion oil deal with Iran to bypass both western sanctions & the dollar based western monetary system yesterday. The 5 year accord will see Russia help Iran “organize oil sales” as well as cooperate in the oil-gas industry, construction of power plants, grids, supply of machinery, consumer goods & agriculture products.

Over the last few weeks there has been a significant interest in the market from large Russian companies that are now preparing to switch contracts to renminbi & other Asian currencies amid fears that western sanctions may freeze them out of the US dollar market. It looks like this is not just a blip, this is a trend.

The Birth of an Eurasian Century: Russia and China do Pipelineistan

See the first real fireworks in the celebration of a new Eurasian century-in-the-making with Russian President Vladimir Putin visiting Xi in China. You remember “Pipelineistan,” all those crucial oil and gas pipelines crisscrossing Eurasia that make up the true circulatory system for the life of the region.

China Signs Non-Dollar Settlement Deal With Russia's Largest Bank

Slowly – but surely – the USD’s hegemony is being chipped away. VTB – among Russia’s largest banks – has signed a deal with Bank of China to pay each other in domestic currencies, bypassing the need for US Dollars for “investment banking, inter-bank lending, trade finance and capital-markets transactions.”

Russia On The Verge Of Dealing A Massive Blow To The Petrodollar

Is the petrodollar monopoly about to be shattered? If Russia starts asking for payment in currencies other than the US dollar, that will essentially end the monopoly of the petrodollar. Russia will need trading partners willing to go along. Iran & China are two nations that would potentially be willing to make the switch…

Russian Sanctions Could See Gold Prices ‘Explode’

The risk of conflict between Russia and the U.S. and EU is more than a short term risk. It is one of the greatest geopolitical challenges since the end of the Cold War. Therefore, it is likely to have a more material impact on gold prices due to the the strong possibility of increased safe haven demand.

Putin Warns Europe "No Alternative... Will Cut Gas Supplies"

President Vladimir Putin has told European leaders a dispute over Ukraine’s gas debt to Russia could affect supplies of Russian gas to Europe and proposed urgent discussions on the matter. The remarks were the strongest sign yet that Russia could curtail supplies of gas to Ukraine.

Natural Gas Alternatives for EU are Risky, Expensive and Time Consuming

Putin’s rapid annexation of Crimea has sparked a new urgency in the European Union to find energy supplies outside Russian state-owned gas giant Gazprom, but weaning the EU from Russian natural gas will be slow & difficult.Although the options are many, each faces significant challenges.

Russia Raises Gold Holdings By 7.247 Tonnes To Over 1,040 Tonnes In Feb

Russia has increased its gold holdings by 7.247 tonnes to 1,042 tonnes in February. Turkey and Kazakhstan also raised their bullion reserves, data from the International Monetary Fund showed today. It will be interesting to see what Russian demand is in March and indeed in the coming months.

Russia Is Slowly Turning The NatGas Tap Off To Europe

Russia’s Natgas exports to Europe and Turkey, excl. former Soviet Union, declined to 405.3mcm as of March 22, according to Bloomberg calculations based on preliminary data from Energy Ministry’s CDU-TEK unit. Average daily exports to the region were ~457mcm in March, lower than year earlier.

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