India’s largest cement maker UltraTech maneuvered its way away from using the U.S. dollar (USD) by using China’s yuan in a $26 million Russian coal deal. This was according to an Indian customs document reviewed by Reuters.
UltraTech Cement is bringing in 157,000 tons of coal from SUEK, one of the world’s largest integrated energy companies with mining, heat, power generating and logistics assets in Russia.
The cargo was loaded on the bulk carrier MV Mangas from Russia’s port of Vanino as per the document. It cites an invoice dated June 5 amounting to 172,652,900 yuan ($25.81 million).
Many nations relying on Russian coal and other oil commodities are trying to adjust and find ways without breaking the sanctions. The most recent coal deal with Russia could support Beijing’s efforts to internationalize the yuan currency and dispute the ruling dominance of the U.S. dollar in worldwide trade. This could also help out Russia from the effects of over 10,000 sanctions currently imposed by the West on Moscow, its citizens and its companies.
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“This move is significant. I have never heard of any Indian entity paying in yuan for international trade in the last 25 years of my career. This is basically circumventing the USD,” a Singapore-based currency trader said.
India has set up a rupee payment mechanism for trade with Russia that has not yet materialized. However, China has dealt with Russia for many years using the yuan.
“If the rupee-yuan-ruble route turns out to be favorable, the businesses have every reason and incentive to switch over. This is likely to happen more,” said Subash Chandra Garg, a former economic affairs secretary at India’s finance ministry.
According to a recent report from Reuters, India’s energy imports from Russia have spiked in recent weeks because of traders’ steep discount offers.
Russian coal traders’ business units in Dubai have become the active facilitators of deals with India. Singapore has reportedly backed off in fear of provoking western nations that invoked sanctions against Russia.
A Russian coal trader based in Dubai said the biggest challenge was sending rubles to Russia. “You can either take payments in yuan in Dubai or receive it in dollars or (Arab Emirates) dirham and convert it to ruble,” he said, adding it was easier to convert the yuan to ruble and was preferred over other currencies.
Collapse of U.S. dollar reserve is imminent
Last month, Russian President Vladimir Putin announced that the BRICS nations (Brazil, Russia, India, China, and South Africa) are working on setting up a new and reliable alternative mechanism for international payments.
“The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” Putin said during the BRICS economic and business forum.
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These emerging economic nations are boosting the use of local currencies in mutual trade. The current coal purchase using the yuan could be one of the initial actions in promoting the use of another legal tender other than the petrodollar. (Related: COUNTDOWN to collapse of the petrodollar… America’s dollar dominance is coming to a sudden, catastrophic end… total CHAOS will follow.)
Andy Schectman, owner and CEO of Miles Franklin Ltd. Precious Metals, in his appearance in “Brighteon Conversations” with the Health Ranger Mike Adams, said the collapse of the U.S. dollar reserve is imminent.
“The BRICS nations are all coalescing and the digital yuan has already done 10 billion in transactions,” he said.
When the dollar collapses, he said, the Great Reset will begin. “There’s your [World Economic Forum founder] Klaus Schwab saying you’ll own nothing and be happy. Because everything that is of any value in this country [U.S.], the four pillars of wealth – dollars, stocks, bonds, real estate – will collapse in one swift moment,” he stated.
It is bound to happen because of the weaponization of the dollar as the world reserve currency. “America cannot tell the world who can and can’t use it by pushing Russia right into the open arms of China and its CIP [cross interbank payment] system,” Schectman explained.
He went on to say that 90 percent of the world has had to own dollars to buy oil. “Now, you have all of the world dumping dollars. And if you think inflation is bad, wait until all those dollars come flooding home creating massive hyperinflation,” he said.
Visit CurrencyReset.news for more news related to the collapse of U.S. dollar in world trade. Watch the below video with Andy Schectman discussing the collapse of the U.S. dollar’s global reserve status.
This video is from the Health Ranger Report channel on Brighteon.com.
More related stories:
- IMF official warns Western sanctions on Russia are threatening the dollar as world’s reserve currency.
- Dollar collapse could be the most significant result of the Russia-Ukraine war as gold rises, analysis warns.
- Fed chair admits US dollar’s international standing could collapse.
- Saudis consider using yuan over dollar in oil sales; move could signal collapse of petrodollar and the American economy.
Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
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