Bloomberg: Russia’s memo and the US dollar
Bloomberg reports that an internal memo in the Kremlin lays out plans for Russia to return to the dollar in “a wide-ranging economic partnership with the Trump administration”.
Either this is made up in an attempt to knock the stuffing out of China’s increasingly obvious plans to replace the dollar for her trade settlements with the yuan, or it is a Russian ploy to drive US interests apart from those of the Europeans. Part of this so-called plan is for Russia and the US to work together to replace global green energy alternatives with fossil fuels.
On the surface, there’s sense in such a proposal and it obviously appeals to the Trump administration. But even if it exists, it is not the whole story. For a start, Russia is unlikely to entertain such a deal without the stolen $300bn of her central bank reserves being returned to her. That requires the EU to sanction it, and the EU is committed to spending it on Ukraine.
