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‘Vicious’ sanctions are hurting Russia, but Moscow has plan to ditch US dollar & axe dependency on West, Foreign Ministry tells RT — Gabriel Gavin

Summary:
WWIII Watch....Russia has warned that, if implemented, disconnecting its businesses from SWIFT would be seen as an "act of war,"...Speaking at a meeting with his Chinese counterpart last month, Foreign Minister Sergey Lavrov said, "The United States has declared its mission is to limit the technological development opportunities of both the Russian Federation and the People's Republic of China." He added that the dollar should be de-prioritized as the default currency of international markets, and the two nations should move away from the use of "Western-controlled international payment systems."...Decoupling of Global East/South from Global North/West underway in earnest, with consequent Cold War 2.0 and renewed arms race, including in space? This would likely also inhibit concerted

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WWIII Watch.

...Russia has warned that, if implemented, disconnecting its businesses from SWIFT would be seen as an "act of war,"...Speaking at a meeting with his Chinese counterpart last month, Foreign Minister Sergey Lavrov said, "The United States has declared its mission is to limit the technological development opportunities of both the Russian Federation and the People's Republic of China." He added that the dollar should be de-prioritized as the default currency of international markets, and the two nations should move away from the use of "Western-controlled international payment systems."...

Decoupling of Global East/South from Global North/West underway in earnest, with consequent Cold War 2.0 and renewed arms race, including in space? This would likely also inhibit concerted action in addressing climate change, since all parties would be reluctant to harness economic growth, for one thing, and for another, the militaries of the world are the prime atmospheric polluters.

Putin previously warned about "playing with fire." He may as well have said, "Children playing with matches near an open can of gasoline."

Gabriel Gavin, in Moscow

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Here is the transcript.

The Vineyard of the Saker
Foreign Ministry Spokeswoman Maria Zakharova’s interview with the RT television channel, May 3, 2021


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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.

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