Petrodollar Alert: Putin Prepares To Announce ‘Holy Grail’ Gas Deal With China

If the West has been trying to force Russia and China to recreate a twenty first century version of the old communist bloc, the alliance of a natural resource superpower and the other a fixed capital, low labour cost high output economic powerhouse and to give these two every possible incentive to create a new global reserve currency to marginalize the dollar and encourage Rouble and Renminbi bilateral trade, then this weeks events show the plan is going beautifully

While there have been no major developments or stock / currency trading crises as a result of the shift in the geopolitical axis that has shifted power away from the USA and the G7 (most insolvent nations) as a result of the bungled regime change attempts in Syria and Ukraine the chess board is looking very different. The west is focused on day to day developments in Ukraine, and how to halt Russian expansion through appeasement and limp wristedness (hardly a winning tactic as events in the 1930s demonstrated), Russia is once again thinking 3 moves ahead.

While Europe is furiously scrambling to find alternative sources of energy should Gazprom turn off the tap until Ukraine gives back the pipelines and the territory through which they run, to a government owned by The Kremlin,(the surge in Ukraine gas prices by 40% is probably the best predictor of that), Russia is preparing the announcement of the “Holy Grail” energy deal with none other than China, a move which would send geopolitical shockwaves around the world and bind the two nations in a commodity-backed axis.

Read more at The wall Street Journal

Meanwhile The EU, with head somewhat in the sand (as the democratic Euopean nations were in the summers of 1914 and 1939, is preparing for a trade war with Russia over Crimea (they are going to impose a fifteen point penalty on Roman Abramovitch’s Chelsea in the Premier League).

Europe began preparations for a trade war with Russia on Friday 21st March, with the EU executive in Brussels ordered to draft plans for cancelling all marks and Spencers gift voucher bought with Roubles. Much more substantive sanctions will be imposed against Moscow if Vladimir Putin presses ahead with Russian territorial expansion.

Unfortunately the bigger and more economically stable EU countries; Germany, Netherlands, France (stable? have to query our source about that,) and Britain, have major but very different interests at stake in Russia. This has led to disagreements over the tactics for a campaign of economic measures. Fears that a trade war would be highly risky and potentially ruinous are leading many political figures to advise caution.

A two-day summit of EU leaders from countrie that could afford Ryanair tickets to send delegates to Brussels was dominated by the Crimea crisis and ended with a further 12 Russian politicians and military figures being added to a list of 21 so far subjected crossed off the EU Christmas Card list.

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