On March 10, 2008 By Karl Deeter In international financeWith 2 CommentsTags: commodity prices, dollar oil correlation, Falling dollar, oil hostages, oil prices Oil Hostages & European oil dependence
“Putin meanwhile seems happy to deal with the EU, we have a strong currency and the addition of their bourse which is accepting Euro’s will be a further boon to a nation that was Dollar Built.
So perhaps the cold war is not as dead and gone as one would have hoped for, indeed the collusion with Iran and the support of their Oil Bourse shows that the lines of communication are much clearer and reception that much better between the Kremlin and Tehran than the Kremlin and Washington.”
This from last week:
St. Pete Bourse’s First Sales
Wednesday, March 5, 2008
ST. PETERSBURG — The St. Petersburg Exchange said Tuesday that it conducted the first two auctions of refined oil products for private brokers, selling 120 tons of gasoline for a total of 2.3 million rubles ($96,000).
Perm-based oil trader Uralmontazhstroi offered the two lots Monday, the exchange said in a statement.
Twenty-six Russian companies and agencies have registered to participate on the bourse, the statement said. (Bloomberg)
No, Putin does not want the euro.
Yes, the cold war is still alive and kicking.