Wednesday, December 24, 2014

Russia has begun dumping dollar

According to Russian media Putin ordered 5 largest exporters to start selling dollars on domestic financial market. From now until March, 2015, Gazprom (gas), Rosnieft (oil), Alrosa (diamonds), Zarubieżnieft (oil) i Kristall (brilliants) are supposed to sell $ 1 billion a day from their assets. They will be doing that according to the schedule drafted by the Bank of Russia.

This action is designed to strengthen Russian currency but is rumored to be planned by Putin long before the crisis and was to be used to undermine dollar.

#Putin #Russia #Obama #US #dollar