Putin gathers anti-dollar coalition

Russian officials who met with Argentine officials last week conveyed to Buenos Aires President Vladimir Putin's proposal to ditch the US dollar and begin bilateral trade using a ruble-to-peso conversion scheme. It is reported by the Uruguayan news agency MercoPress, citing the Argentine newspaper El Cronista.

This proposal was discussed over lunch between Argentine President Alberto Fernandez and a group of his assistants, on the one hand, and a delegation of representatives of the Russian Direct Investment Fund (RDIF) and Sovcombank, on the other. At the same time, Argentina's ambassador to Moscow, Eduardo Zuain, discussed this issue with the Russian authorities, businessmen and diplomats. In general, the idea was named “technical a problem requiring financial engineering ”, to be assessed by the Executive Director of the Central Bank of Argentina (BCRA) Miguel Pesce.

Informants in the Argentine government said Putin is assembling an anti-dollar coalition. If approved by Buenos Aires, it will become a very serious geopolitical challenge. However, given the impending devaluation of the Argentine peso against the US dollar, it is only natural for the Argentine government to consider all options.

- El Cronista clarified.

Russia wants to end its dependence on the US dollar at a time when the inflationary spiral is wreaking havoc in the United States. In addition, by getting rid of the dollar in trade, the Kremlin is bypassing possible future sanctions. Since 2014, the EU and the US have introduced economic restrictions against the energy, banking and defense sectors of the Russian Federation. Now the question of tougher sanctions is being considered if Moscow tries to invade Ukraine. On December 13, President Fernandez and Ambassador Zuain met at Casa Rosada for 38 minutes to discuss a visit by Russian businessmen and Fernandez's possible trip to Moscow in April 2022 to promote bilateral trade.

Developing foreign trade in rubles with allied countries would be a significant achievement for Putin, who sees that his own currency is also losing ground relative to the US dollar.

- explains El Cronista.

Now the volume of bilateral trade between Russia and Argentina is relatively small - $ 900 million a year, but the idea is to increase this flow and strengthen a strategic alliance that dates back to 2010, when the Russian leader met with Argentine President Cristina Kirchner.

Russian companies are interested in such industries as mining and chemical industry, oil production, energy and railways. For example, in recent negotiations, the possibility was discussed that Sovcombank could open an office in Buenos Aires. This is in addition to the possible sale of Russian military equipment and the Sputnik V COVID-19 vaccine to Argentines, Uruguay media reported.

We remind you that on December 15, negotiations were held between the President of the Russian Federation and the Head of the People's Republic of China Xi Jinping, which took place in the format of a video conference. During the conversation, the Russian leader spoke about the need to create an independent settlement system like SWIFT.
  • Used photos: http://kremlin.ru/
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  1. Yuri Shishlov Offline Yuri Shishlov
    Yuri Shishlov (Yuri Shishlov) 21 December 2021 21: 37
    The dollar lived, the dollar is alive and the dollar will live! But Putin's ruble is a big question !!!
    1. Fourth Horseman Offline Fourth Horseman
      Fourth Horseman (Fourth Horseman) 21 December 2021 22: 37
      Your concern is understandable. Afraid that the owners will stop paying you.
      Do not be afraid. You should have understood from the very beginning that they have a kept woman as long as she is useful.
      And then, with a kick in the ass ..
      1. Demonlivi Offline Demonlivi
        Demonlivi (Dima) 22 December 2021 09: 03
        Unfortunately he is right! The dollar is the most alive. Look on YouTube as before the jump of the ruble, for a week the kisilev and nightingales were yelling from the screens that tomorrow the khan's dollar, and those who were in the subject were buying up the dollar. I myself got it was 3000 $ in rubles became $ 1500
      2. The comment was deleted.
    2. Ulysses Offline Ulysses
      Ulysses (Alexey) 21 December 2021 23: 05
      The dollar lived, the dollar is alive and the dollar will live!

      Darik and Sigle, Solid, Florin and Dukat, Peso, Guinea will not let you lie.
      They are still alive.
      In the collections of numismatists. wink
    3. The comment was deleted.
  2. Miffer Offline Miffer
    Miffer (Sam Miffers) 22 December 2021 15: 55
    “If you heard something that I was saying something about the dollar, and understood that we want to get rid of it as a reserve currency or as a universal means of payment, this is not the case. I was talking about something else. I said that the United States is using the dollar, using its national currency for various sanctions, ”said the Russian leader.

    Putin commented on the refusal of the Russian Federation from the dollar as a reserve currency.
    June 5 2021.
  3. zenion Offline zenion
    zenion (zinovy) 22 December 2021 16: 14
    It is high time to write alcohol on the label of 40% vodka.
  4. Bitter Offline Bitter
    Bitter 22 December 2021 17: 28
    I wonder what criteria will be used to determine how much pesos to give for the ruble, and how much for the yuan? What "discounts" will the coalitioners get for "bypassing" the damned dollar "exchanger" and from whom?