Who benefits from high oil prices?

[surada]

That doesn't mean they are doing it, does it?

I think so.. China and Japan buy a lot of oil from OPEC. I would have to do some research.. Petro Caribe was developed to dump the Petro dollar.

 

[rupol2000]

China’s currency displacing the dollar in global oil trade? Don’t count on it. | Brookings

Despite China’s central role in global oil markets, the RMB is unlikely to challenge the dollar as the default currency for oil trade anytime soon. A number of obstacles stand in its way, including Chinese capital controls and the foreign exchange risk that producers may be unwilling to take.

www.brookings.edu

Firstly, China is not an exporter, but an importer of oil; secondly, the yuan is pegged to the dollar; in the third, no one in their right mind would use the yuan as a reserve currency; China is constantly depreciating it.

It's not serious info

 

[Toddsterpatriot]

Do they want or do it?

COMMODITIES NEWS
AUGUST 21, 2019 5:58 AM UPDATED 2 YEARS AGO

Exclusive: Russia's Rosneft to switch to euros in oil products tenders - traders​

MOSCOW (Reuters) - Russia’s Rosneft, one of the world’s top oil producers and exporters, has notified customers that future tender contracts for oil products will be denominated in euros not dollars, five trading sources told Reuters.

The move, which could come as soon as this year, is likely to be seen as an attempt to offset any potential negative impact of U.S. sanctions on Russia.

Rosneft, which accounts for over 40% of oil output in Russia, produced 45.8 million tonnes of oil products at home in the first six months of this year - from diesel and gasoline to fuel oil and petrochemicals.

Exclusive: Russia's Rosneft to switch to euros in oil products tenders - traders

Russia's Rosneft, one of the world's top oil producers and exporters, has notified customers that future tender contracts for oil products will be denominated in euros not dollars, five trading sources told Reuters.

www.reuters.com

 

[rupol2000]

COMMODITIES NEWS
AUGUST 21, 2019 5:58 AM UPDATED 2 YEARS AGO

Exclusive: Russia's Rosneft to switch to euros in oil products tenders - traders​

MOSCOW (Reuters) - Russia’s Rosneft, one of the world’s top oil producers and exporters, has notified customers that future tender contracts for oil products will be denominated in euros not dollars, five trading sources told Reuters.

The move, which could come as soon as this year, is likely to be seen as an attempt to offset any potential negative impact of U.S. sanctions on Russia.

Rosneft, which accounts for over 40% of oil output in Russia, produced 45.8 million tonnes of oil products at home in the first six months of this year - from diesel and gasoline to fuel oil and petrochemicals.

Exclusive: Russia's Rosneft to switch to euros in oil products tenders - traders

Russia's Rosneft, one of the world's top oil producers and exporters, has notified customers that future tender contracts for oil products will be denominated in euros not dollars, five trading sources told Reuters.

www.reuters.com

I will leave aside for now that the concret sources are not indicated.
This is a 2019 article, now it's 2021.
Have these plans been realized or not?

 

[Toddsterpatriot]

I will leave aside for now that the concret sources are not indicated.
This is a 2019 article, now it's 2021.
Have these plans been realized or not?

You don't know?

 

[rupol2000]

You don't know?

If I knew I would not ask

 

[Toddsterpatriot]

If I knew I would not ask

You sounded so sure in post #8....

Vice versa. For example, Germany wants to buy oil from Russia. For this it has to buy dollars from the USA,

And post #24.....

For those dollars is also paid

Toddsterpatriot said:
Or Euros.

Oil is not sold in Euro

And post #52......

You moron, I said that I dont know such a law, but everyone knows that oil is traded in dollars, all schoolchildren and degenerates know this, you are unique.

I guess you're the moron, eh?

Russia has moved away from dollars in international trade since the U.S. imposed sanctions in 2014 following President Vladimir Putin’s annexation of the Crimean peninsula from Ukraine. In 2019, Russia’s state-owned oil giant Rosneft moved all its oil export contracts into euros.

“The goal is, maybe, first to make Russia a euro-first country, so that the dollar is replaced by the euro,” said Dmitry Timofeev, who heads the department that monitors external restrictions, in quotes reported by Interfax and later confirmed by the ministry. “But to do that, you need stimuli.”

Bloomberg - Are you a robot?

www.bloomberg.com

 

[rupol2000]

Russia has moved away from dollars in international trade since the U.S. imposed sanctions in 2014 following President Vladimir Putin’s annexation of the Crimean peninsula from Ukraine. In 2019, Russia’s state-owned oil giant Rosneft moved all its oil export contracts into euros.

This is stated by some sort of "Jack Rudkovski" and "Anna Adrianova". I can rely on this as a reliable source, are they the official representatives of Rosneft? Or are they just some kind of jesters from the backyard of the Kremlin propaganda?

 

[rupol2000]

As for the quotes from officials, there is nothing of the kind.
“The Ministry of Finance of Russia supports this transition, including creating appropriate regulatory incentives,” it said in a statement Monday. “Naturally, such incentives can’t include any prohibitions, only economic methods.”
That is, all this is still only in the plans (2 years after the plans for 2019)

 

[rupol2000]

About 5 years ago, Putin announced that he would abandon the dollar in settlements with Iran. He has been announcing something similar from time to time since about 2000, he even announced the transition to the ruble. Although he is not authorized to decide or voice issues of financial policy in Russia, he has nothing to do with it. The Ministry of Finance also does not address these issues.

 

[rupol2000]

The central bank is not legally subordinate to the government and pursues an independent financial policy. Only parliament can indirectly influence it. The ministry cannot influence in any way at all.
On the contrary, ministries are indirectly dependent on the policy of the central bank, because the financing of the government depends on it.

 

[rupol2000]

Although I do not deny that Russia could have gone under the "financial vassalage" of Europe, because it really has not been on the list of holders of Treasuries since that time. Where the money from the sale of Treasuries was invested was not announced
But there is no offical information about the transfer of oil sales in euro

 

[Toddsterpatriot]

This is stated by some sort of "Jack Rudkovski" and "Anna Adrianova". I can rely on this as a reliable source, are they the official representatives of Rosneft? Or are they just some kind of jesters from the backyard of the Kremlin propaganda?

Let's see, Bloomberg and Reuters......or some joker who thinks the Fed extinguishes dollars
when someone buys a T-Bill.....hmmmmmm........DURR

 

[rupol2000]

Let's see, Bloomberg and Reuters......or some joker who thinks the Fed extinguishes dollars
when someone buys a T-Bill.....hmmmmmm........DURR

If there are reliable proofs, speak up, or just shut up

 

[Toddsterpatriot]

If there are reliable proofs, speak up, or just shut up

I agree.....you should prove your claims about the Fed and about oil sales.

 

[rupol2000]

I agree.....you should prove your claims about the Fed and about oil sales.

I'm not interested in talking to you at all. This level of discussion I could get from drunks in a cheap pub, if I wanted. I wasn't hired to teach idiots the basics of financial literacy.

 

[rupol2000]

You have twice tried to find proof that in nature at least there are transactions with oil that are not in dollars and have found nothing but the ravings of some kind of journalists. This in itself proves that I am right, but even if you found such information, it would still not refute the generally accepted practice of trading oil in dollars.

 

[Toddsterpatriot]

I'm not interested in talking to you at all. This level of discussion I could get from drunks in a cheap pub, if I wanted.

Why not, that seems to be where you get your information.

 

[rupol2000]

Why not, that seems to be where you get your information.

I have always said that the northeast is a special region in the United States, there most of all
degenerates who do not stop yapping even when they are up to their ears in shit. There are many of them in Europe, but for the United States, this is rather an exception.

 

[Toddsterpatriot]

I have always said that the northeast is a special region in the United States, there most of all
degenerates who do not stop yapping even when they are up to their ears in shit. There are many of them in Europe, but for the United States, this is rather an exception.

Whatever you say, comrade.