{"id":25596,"date":"2017-09-13T20:06:12","date_gmt":"2017-09-14T01:06:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25596"},"modified":"2017-09-13T20:06:12","modified_gmt":"2017-09-14T01:06:12","slug":"de-dollarization-spikes-venezuela-stops-accepting-dollars-for-oil-payments","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25596","title":{"rendered":"De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments"},"content":{"rendered":"

De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments<\/a><\/h3>\n
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Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? <\/strong><\/em><\/p>\n

<\/a><\/p>\n

Source: The Burning Platform<\/em><\/a><\/p>\n

Apparently confirming what President Maduro had warned<\/a> following the recent US sanctions, The Wall Street Journal reports <\/a>that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports<\/strong>.<\/p>\n

\"\"<\/a><\/p>\n

As we previously noted, <\/em><\/a>Venezuelan President Nicolas Maduro said last Thursday that Venezuela will be looking to \u201cfree\u201d itself from the U.S. dollar next week. <\/strong>According to <\/em>Reuters,<\/a><\/p>\n

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\u201cVenezuela is going to implement a new system of international payments and will create a basket of currencies to free us from the dollar,\u201d<\/em><\/strong>\u00a0Maduro said in a multi-hour address to a new legislative \u201csuperbody.\u201d He reportedly did not provide details of this new proposal.<\/p>\n<\/blockquote>\n

Maduro hinted further that the South American country would look to using the yuan instead, among other currencies.<\/p>\n

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\u00a0\u201cIf they pursue us with the dollar, we\u2019ll use the Russian ruble, the yuan, yen, the Indian rupee, the euro,\u201d\u00a0<\/em><\/strong>Maduro also said.<\/div>\n<\/blockquote>\n

*\u00a0 *\u00a0 *<\/p>\n

And today, as The Wall Street Journal reports<\/a>, in an effort to circumvent U.S. sanctions, Venezuela is telling oil traders that it will no longer receive or send payments in dollars<\/strong>, people familiar with the new policy said.<\/p>\n

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Oil traders who export Venezuelan crude or import oil products into the country have begun converting their invoices to euros. <\/strong><\/p>\n

The state oil company Petr\u00f3leos de Venezuela SA, known as PdVSA, has told its private joint venture partners to open accounts in euros and to convert existing cash holdings into Europe\u2019s main currency, <\/strong>said one project partner.<\/p>\n<\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Source: The Burning Platform Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[1025,588,839,851,4318],"class_list":["post-25596","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-de-dollarization","tag-oil","tag-us-dollar","tag-venezuela","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25596"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25596\/revisions"}],"predecessor-version":[{"id":25597,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25596\/revisions\/25597"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}