Read the story here. Advertise at Before It's News here.
Profile image
By John Ale (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Suprise: China, Russia Quit Dollar

% of readers think this story is Fact. Add your two cents.

By Su Qiang and Li Xiaokun (China Daily)

St. Petersburg, Russia – China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

“About trade settlement, we have decided to use our own currencies,” Putin said at a joint news conference with Wen in St. Petersburg.

The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.

The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.

“That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries,” he said.

Putin made his remarks after a meeting with Wen. They also officiated at a signing ceremony for 12 documents, including energy cooperation.

The documents covered cooperation on aviation, railroad construction, customs, protecting intellectual property, culture and a joint communiqu. Details of the documents have yet to be released.

read more

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Total 9 comments
    • Mark Brander

      This a smart move seeing as how they will soon be destroying America as per the plans of the New World Order. They need to be out of the dollar before the missiles fly and the troops parachute in.

      Read close to a dozen eyewitness testimonies regarding the Russian Special forces Obama and the Pentagon already have in America!


    • Anonymous

      The article came out in 2010. Why is it suddenly news today??

    • Anonymous

      Thanks for the 2010 article, but was probably 2007 or so, since it was updated.


      • Old Harry

        Boy did you get that right! I wrote a long response months ago…..”original article”

    • Wretched Infidel

      Yes, bring America down, for its nationalism and independence must come down before the worldwide regime can be brought full-force for Lucifer.

      This is how we do it… out of chaos comes their ‘solution’ and it does involve a whole lot of klling.

    • HDThoreau

      And so it begins.

    • MissingRonnieR

      Imagine how long the paper economy in China would lat if Western Nationcaped down imports, Te Yen woul be almost as worthless as the debt owed to it. Do no think for a second that is not an option, a painful option in the short term, but a clear choice. Their economy is propped up with a stick and their population is barely contained.

    • Anonymous

      Thus far they have only been doing 100 billion in trade. Doesnt look like the FED is going anywhere, nor the US dollar.

    • Wulfrano Ruiz Sainz

      Getting closer to a declaration of war.

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.