Tuesday , November 5 2024
Home / Mike Norman Economics / Paul Antonopoulos — Turkey to Ditch U.S Dollar in Trade, Urges Europe to Follow Suit

Paul Antonopoulos — Turkey to Ditch U.S Dollar in Trade, Urges Europe to Follow Suit

Summary:
Turkish President Recep Tayyip Erdogan said on Saturday that his country is ready to trade with partner nations using national currencies. “We are preparing to carry out trade in national currencies with China, Russia, Iran, and Ukraine, which account for the bulk of bilateral trade. If European countries want to get rid of the pressure of the dollar, we are ready to create a similar system with them,” said the Turkish leader during a meeting in the Turkish city of Rize. Fort RussTurkey to Ditch U.S Dollar in Trade, Urges Europe to Follow Suit Paul AntonopoulosSee alsoGeopolitics AlertThe Real Reasons why US-Turkey Relations Have Hit an All-Time Low Jim CareyAlso Russia will also have more settlement in roubles and other currencies, such as the euro, than in dollars, Siluanov said.

Topics:
Mike Norman considers the following as important: , ,

This could be interesting, too:

Matias Vernengo writes Challenges and Perspectives of International Monetary Policy

Matias Vernengo writes Dollar dominance and the international monetary hierarchy

Matias Vernengo writes Dollar Hegemony and Argentina

Matias Vernengo writes Dollar Hegemony, coming soon

Turkish President Recep Tayyip Erdogan said on Saturday that his country is ready to trade with partner nations using national currencies.
“We are preparing to carry out trade in national currencies with China, Russia, Iran, and Ukraine, which account for the bulk of bilateral trade. If European countries want to get rid of the pressure of the dollar, we are ready to create a similar system with them,” said the Turkish leader during a meeting in the Turkish city of Rize.
Fort Russ
Turkey to Ditch U.S Dollar in Trade, Urges Europe to Follow Suit
Jim Carey

Also

Russia will also have more settlement in roubles and other currencies, such as the euro, than in dollars, Siluanov said.
Reuters
Russia says will ditch U.S. securities amid sanctions: RIA

See also

Sputnik International
US Dollar Becoming Risky Instrument For Int'l Payments – Russian Minister

Also

Zero Hedge
Russia Finance Minister: We May Abandon Dollar In Oil Trade As It Is Becoming "Too Risky"

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *