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Friday, May 23, 2014

The Dollar under attack: Read: Oil, Gas and Arms trade settled in Eurasian Currencies:

The birth of a Eurasian century: Russia and China do Pipelineistan

Published time: May 20, 2014 13:44

Russia's President Vladimir Putin (L) and China's President Xi Jinping attend an agreement signing ceremony during a bilateral meeting at Xijiao State Guest house ahead of the fourth Conference on Interaction and Confidence Building Measures in Asia (CICA) summit, in Shanghai on May 20, 2014.(AFP Photo /  Alexey Druzhinin)
Russia's President Vladimir Putin (L) and China's President Xi Jinping attend an agreement signing ceremony during a bilateral meeting at Xijiao State Guest house ahead of the fourth Conference on Interaction and Confidence Building Measures in Asia (CICA) summit, in Shanghai on May 20, 2014.

And no wonder Washington is anxious. That alliance is already a done deal in a variety of ways: through the BRICS group of emerging powers (Brazil, Russia, India, China, and South Africa); at the Shanghai Cooperation Organization, the Asian counterweight to NATO; inside the G20; and via the 120-member-nation Non-Aligned Movement (NAM).

Trade and commerce are just part of the future bargain.

Synergies in the development of new military technologies beckon as well. After Russia’s Star Wars-style, ultra-sophisticated S-500 air defense anti-missile system comes online in 2018, Beijing is sure to want a version of it. Meanwhile, Russia is about to sell dozens of state-of-the-art Sukhoi Su-35 jet fighters to the Chinese as Beijing and Moscow move to seal an aviation-industrial partnership.

Russia’s VTB and Bank of China agree on domestic currency settlements

Published time: May 20, 2014 08:58
Edited time: May 20, 2014 11:27

Reuters / Sergei Karpukhin
Reuters / Sergei Karpukhin

VTB, Russia’s second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in domestic currencies.

“Under the agreement, the banks plan to develop their partnership in a number of areas, including cooperation on ruble and renminbi settlements, investment banking, inter-bank lending, trade finance and capital-markets transactions,” says the official VTB statement.
The deal underlines VTB Group’s growing interest in Asian markets and will help grow trade between Russia and China that are already close trading partners, said VTB Bank Management Board Vasily Titov.
An Agreement on Cooperation was signed by Titov and Bank of China President Chen Siqing in Shanghai on Tuesday in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping.
VTB Group is Russia’s second biggest financial institution with more than 30 banks and financial firms in more than 20 countries. Its assets were estimated at 8.8 billion rubles as of 2013, with a profit of 100.5 billion rubles.

Growing trade and investment

The agreement comes as a part of Russia’s larger scale pivot to Asia, as Western economies threaten sanctions over the turmoil in Ukraine. Sanctions by the US and the EU have been mostly limited to visa bans and asset freezes on some leading Russian officials, and so far only threatening a so-called third round of real economic sanctions against Russian businesses.
In the first day of a two-day trip to China Russia’s President Vladimir Putin said the two countries will be increasing their bilateral trade to reach a new level.
“Our countries have done a huge job to reach a new historic landmark…. China has firmly settled in a position of our key trade partner,” Putin said.
Putin also said that trade turnover between Russia and China grew almost 2 percent during 2013 to reach about $90 billion.
“If we sustain this pace the level of bilateral trade of $100 billion will be reached by 2015 and we’ll confidently move on,” Putin said.

Russia and China seal historic $400bn gas deal

Published time: May 21, 2014 09:29
Edited time: May 22, 2014 11:16

After 10 years of negotiations, Russia's Gazprom and China's CNPC have finally signed a historic gas deal which will provide the world's fastest growing economy with the natural gas it needs to keep pace for the next 30 years.
The total value of the contract is $400 billion, Gazprom CEO Aleksey Miller said. However, the price of gas stipulated in the document remains a "commercial secret."
Assuming the overall price of the contract includes only the cost of supplies of Russian gas, then the $400 billion price tag means China will pay about $350 per 1,000 cubic meters. Delivery price for the contract will be tied to market oil prices, Putin said from Shanghai on Tuesday.

Russia and China Block Security Council Move to Prosecute Syria War Crimes


A measure to refer the Syrian crisis to the International Criminal Court for investigation of possible war crimes received 13 yes votes on Thursday in the 15-member United Nations Security Council. Credit Lucas Jackson/Reuters

Russia and China on Thursday vetoed a United Nations Security Council resolution that would have empowered the International Criminal Court to investigate and prosecute war crimes in Syria, defying widespread support for such a move by human rights advocates and many United Nations members, including the United States.
It was the fourth time that Russia and China used their veto power as permanent Security Council members to block any coercive action by the international body in the Syrian conflict, which began more than three years ago and has claimed at least 150,000 lives.

Iran-Russia-China alliance US nightmare: 

Academic A prospective security alliance between Iran, China and Russia will give the cash-strapped United States a nightmare, an Iranian academic tells Press TV.

Foad Izadi, a professor at the University of Tehran, made the comment in an interview with Press TV after Chinese President Xi Jinping called for the creation of a new Asian organization for security cooperation with the participation of Iran and Russia.
“I think the Chinese-Iranian-Russian alliance is a nightmare for the United States,” he said.
Izadi also stated that the current state of relations between Iran, China and Russia enables these “three partners” to “form an alliance with other Asian countries and basically defend their national interests against the United States and a number of European countries.”

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