90% Of Gazprom Clients Have "De-Dollarized", Will Transact In Euro & Renminbi

Tyler Durden's picture

Following Obama and Putin's "caught on tape" meeting Vine'd by the French President, we can't help but wonder if the Russian leaders comments were something akin to "this is not over yet." With "De-Dollarization" efforts already broadly under discussion, ITAR-TASS reports that Gazprom had signed additional agreements for clients to switch from dollars to euros and renminbi, "nine of ten consumer had agreed to switch."



Gazprom Neft had signed additional agreements with consumers on a possible switch from dollars to euros for payments under contracts, the oil company's head Alexander Dyukov told a press conference.


"Additional agreements of Gazprom Neft on the possibility to switch contracts from dollars to euros are signed. With Belarus, payments in roubles are agreed on," he said.


Dyukov said nine of ten consumers had agreed to switch to euros.


ITAR-TASS reported earlier that Gazprom Neft considered the possibility to make payments in roubles under contracts. Some contracting parties agree to switch from dollars to euros and Yuans.


"The so-called Plan B is already partially worked out. The switch of dollar contracts to euros and Yuans is agreed on with some of our contracting parties. Under consideration is the possibility to switch contracts to roubles," Dyukov said at the St. Petersburg International Economic Forum.

As we concluded previously,

And as we have explained repeatedly in the past, the further the west antagonizes Russia, and the more economic sanctions it lobs at it, the more Russia will be forced away from a USD-denominated trading system and into one which faces China and India.

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q99x2's picture

Make mine Bitcoin. Last Price 655,

THX 1178's picture

I wonder if it will survive the grand monetary reset.

tmosley's picture

It will survive and thrive.  Long BTC is long currency controls, and currency controls are part and parcel of currency collapse.

remain calm's picture

Putin to Obama. Fuck You Nigga


knukles's picture

What makes sense...

Putin takes Chinee and EU paper from 2 biggest clients, Chinee and EU
China and EU have less demand for dollahs
China say, Ho-ka
EU say whatever the fuck you ask us so we don't freeze in the dark.  Except the Frogs.  The Frogs have lots and lots of Nuke Generating Stations.  The Frogs say Oui and demand immediate boycott of WartHouse lunch menu of caviar, champagne and fioe gras.
Everybody else shrugs
Putin says Hah ha ha ha ha ha
Jack (You Don't Know Jack Shit) Lew asks Lloyd Blankfiend what to do.
Lloyd says you give us all your gold for liquidity.  After all, Ecuador just did and now their currency is sweeter than sucre.
Everything ess bon!  We has negative interest rates!  Bon!  Ettt all enz well, no?

Fuck me, I mean I'm being dragged away by a bunch of Yeti that shave their back and are told they're civilized....

0b1knob's picture

I thought most of Gazprom's contracts tied the price of nat gas to the price of oil in some manner?

max2205's picture

So that would leave about 1 trillion in excess dollars sitting in the EU Asia doing nothing except earning minus .01%


I am thinking those find their way back to the US and flood the Treasures market with buy orders......a black swam to say the least....their are no treasuries to buy at tha size unless the Fed sells theirs. ...interesting

sun tzu's picture

More like earning -3% according to the official inflation rates

sixsigma cygnusatratus's picture

Is it wrong of me to observe that more and more, America is starting to resemble the 50s Soviet era non-religious amoral egalitarian utopian society that was once our perceived enemy?  And Russia is starting to resemble 50s era America?  WTF happened?...we are becoming the enemy we once feared and thought would destroy us, and they have become us. 

Even Svetlana has become quite attractive and stylish while Betty is a 350 lb, electric scooter-riding sea hag on 27 different medications.

Rootin' for Putin's picture

No, i have been thinking the same thing recently.

I MISS KUDLOW's picture

now where does russia and china get the wood to print their paper on maple, oak, or poplar

ebear's picture

Siberia.  Some of the best timber in the world actually.

Manthong's picture

6 Sigma,

Answer to your question: you are not wrong and yes we are turning into our own worst enemy.

The muslim-in-chief hypocrite apostate gets his advice from Valerie Jarrett and worships little balls in a big field. The other guy seems to take his counsel here.

Watch the RT video.. a good investment of 26 minutes.

GoldBricker's picture

Amen. Was a Russian lit major in college, 40 years ago. I thought it was all forgotten, but it wasn't, not the language, nor the feeling. We got nothin' like that in the West.

Many thanks, bro.

shovelhead's picture


Sure we do.

The 50% off sale at The Men's Warehouse.

plane jain's picture

Ha...so lots of commentors here on ZH should become fat black Jewish bankers.  Bet Banzai could whip up a pic of that.

Idaho potato head's picture

The printing presses are being fitted with liquid nitrogen cooling apparatus as we speak.

TruthHunter's picture

"Ecuador just did and now their currency is sweeter than sucre."


Were you being extremely ironic or ignorant?

Of course their currency is sweeter than Sucre. That currency went out of

existence in 2000 and has been replaced by the dollar. As they have been

running a trade surplus, it seems strange that giving up their gold would

improve their liquidity.

shovelhead's picture


The dopes traded it for paper dollars.

And they'll never get it back.

tbd108's picture

Ordinarily I don't care much for the 'n' word, however in the case of 'bath house', a shill for the Chicago mob and a stooge for the banksters, seems more than appropriate. Black men everywhere weep when confused with this loser.

Cathartes Aura's picture

I wonder, do you "weep" for every "loser" who represents your racial demographic?

and isn't O "half white"?

distractions and artificial sides. . .  divide and rule.

The use of this technique is meant to empower the sovereign to control subjects, populations, or factions of different interests, who collectively might be able to oppose his rule. Machiavelli identifies a similar application to military strategy, advising in Book VI of The Art of War, that a Captain should endeavor with every art to divide the forces of the enemy, either by making him suspicious of his men in whom he trusted, or by giving him cause that he has to separate his forces, and, because of this, become weaker.

tbd108's picture

Fair questions however I believe minorities do have more to deal with when a member of their group has such a high profile (I'm half American Indian and half Irish myself). And yes, Zero's mother was a white woman but he clearly identifies with his black father (whom I strongly believe was Frank Marshall Davis who looks just like him and showed some actual concern for the boy growing up). I don't believe there is anything about his behavior, certainly not political behavior, that you would identify with the northern suburns of Chicago (where I and his mother's family came from). When he returned to the continental US he went straight to the southside of Chicago which is very black. Finally, virtually every black voter in America voted for him in both elections. The man is black. Note: I said "virtually every black voter in America" voted for him, the ones that perhaps are weeping are the few that understood what they were really dealing with (i.e. stooge and shill) and voted for someone else (hopefully not the loser Republican candidates).

Zwelgje's picture

"Don't vote, you'll only encourage the bastards."


Idaho potato head's picture

"Negotiating with Obama is like playing chess with a pigeon. The pigeon knocks over all the pieces, shits on the board
and then struts around like it won the game."
-Vladimir Putin -- (Accurately descriptive, but cannot be attributed to Putin)

oddjob's picture

Petro-marking might be a more tangible way to realize profits from said increase in Government controls.

Never One Roach's picture



90% Of Gazprom Clients Have "De-Dollarized", Will Transact In Euro & Renminbi ...


... and Gold, I suspect.

Mitzibitzi's picture

Not at this price. There isn't enough of it. Everyone is paying in worthless paper and promises that are worth less than nothing.... for now!

And stacking like a guy who has never heard of boating accidents.

Kirk2NCC1701's picture

I'd also force them to use Rubles, and limit the amount of sales in Euros, since the Euro = USD2 -- now that the Fed and Brussels have a mainline link between them.

babkjl's picture

At Walmart today I saw a Western Union poster that said the following: we require you to say why you are sending money, what your work or school is, to name any third party you are transacting on behalf of... etc! What?!? Screw that. Bitcoin users unaffected.

Kirk2NCC1701's picture

I'm sorry to tell you that it will survive, in a manner of speaking:  The Gov will issue its own version, and eliminate cash entirely.

Why do you think they are pushing the infrastructure for all kinds of devices and appliances to be "connected"?  Soon you will be too.  And there shall be no buying or selling, w/o the barcode and biometric chip.  Welcome to Prison Planet, per the vision and goals of the Overlords.  "Childhood's End" is at hand.

remain calm's picture

Putin to Obama "Check, I just took your queen, it's your move and all you got are pawns, bitch."

THX 1178's picture

LOL! how many chess matches have you seen where the pawns refuse to move and then conspire to hang their own king?

quasimodo's picture

I think it would be more along the lines "I took your queen, took the paper bag off and after nearly shitting my pants from the horror of it all, promptly air posted it back to the states.........you win that round"

Miles Ahead's picture

Another Ape comment.  I hope your previous one


... gets you banned asshole.

syntaxterror's picture

This isn't some pussified libtard site like sfgate.com. 

throughthelookingglass's picture

Obama, knocks over the pieces, shits .... struts ...

Skin666's picture

Why wouldn't it? Bitcoin does not depend on banks or governments. It's a payment network within the interwebz.

When the dollar crashes and physical gold and silver has been exhausted, where will the panicking stampede go next?


SilverIsMoney's picture

I like the idea BUT!

Bitcoiners still cannot explain to me why it should be 100X more valuable than the other 100 crypto currencies. I think of it like a bargraph... you've got 100 crypto currencies and 1 of them is absurdly higher than the rest - doesn't this mean the other cryptos should go higher as bitcoin falls thus evening out the bargraph? I've been asking this question for over a year now and no one has been able to explain to me why bitcoin holds so much more value over the rest. 

Does it not seem more likely that as bitcoin shoots to the moon that people would move to more undervalued crypto currencies thus keeping the value of bitcoin in check? 


My money is still on bitcoin being used as a way to keep people out of gold and silver (look at the inverse relationship - every time bitcoin shoots up PMs are going down - it's just as likely, imo, that TPTB are using it as a way to drive people who want out of the dollar into their new digital system while getting them to think they're actually protesting TPTB when they are in fact walking right into their trap)

Skin666's picture

Look at this. This man explains better than anyone else IMO http://www.youtube.com/watch?v=c2CsJ2HMA2I

balanced's picture

In simplest terms, Bitcoin has become the standard, like HTML. This is a very loose example, but all of the web browsers support HTML, and all "alternative" such as CSS, PHP, ASP, etc. still end up using (printing) HTML. The same is true for Bitcoin. All of the payment systems use Bitcoin, and all of the "alternative" crypto-currencies are priced in Bitcoin on the exchanges. It's the standard.

Note to all of you developers that want to point out that HTML is a Markup language, while PHP and ASP are scripting languages, and that CSS is neither - I know. As I said it's just a loose example hah.

runningman18's picture

Kind of like how the dollar became the global "standard"....

SilverIsMoney's picture

I just do not think that's a good enough argument to justfy the absurd differences in value. Everything people say about bitcoin could be said about litecoin right? That link to the Andreas Antonopoulous video does not address my original concern. All these people keep talking about how great and decentralized it is and how it is a revolution in money - I do not deny ANY of that! But again, WHY should I buy BTC at $655 when I can get Litecoin at a fraction of the cost? And why should I get litecoin when I can get RonPaul, MaxKeiser, or KanyeWest Coin?! What is the real difference? Why buy a bunch of Bitcoins when I can get the SAME technology and the SAME revolution at a FRACTION of the cost?!

Then you've got Mr. Darkcoin taking it to an even further level below...because of course now you've got all these people taking sides on why their crypto is better which negates the idea Bitcoin is the best...

It just all seems like madness that will one day culminate in THEE Crypto Currency. The question becomes, is that bitcoin or not? Everyone investing in it could be investing in something that will be obsolete as a more secure, or valuable, crypto comes along...

Again, I like the idea, but there's no good explanation as to why the differences between these cryptos are so absurd besides "Well bitcoin was first" and that, imo, is a shit reason. I'll stick with my PMs and consider investing in the lower level cryptos that have yet to make their move.


I have it on good authority from one of my good friends who went all in at $10 and is currently running a giant mining operation that bitcoin will be going to 2k by the end of the year but I'm still not going to buy because all I see happening, when that happens, is all the bitcoiners will dump their coins into the undervalued cryptos and those thinking they're holding onto digital gold will infact end up being the bagholders as the weaker cryptos gain value relative to bitcoin.

Mitzibitzi's picture

You're possibly correct. It's called 'a free market of competing currencies'... we used to have those (or a whole lot more than now, anyway!) prior to 1913.

The crypto-coin, precious metal, voucher linked to a basket of commodoties, etc that offers the best incentive for people to want to use it will - in the long run - end up at the top of the pile, the others will hover lower, or vanish - but the surivors will still be used by anyone who wants/needs some facility that CheeseCoin, etc may provide that other transaction-vouchers don't.

In the long run, it doesn't actually matter. Buy LiteCoin, if the lower price per unit attracts you. Over the short term, it's value relative to the dollar, euro, pound, etc will go up and down, same as BitCoin is doing. When all of the above go to zero, however.... as long as there are people willing to trade their stuff for your crypto-coin, silver coin, gold coin, 2' length of copper pipe, etc, etc cos they can trade your payment token for somebody else's stuff that they need more than the stuff they traded with you for, then just about anything can be money.

You can have token-enabled barter when you have the internet!

Advoc8tr's picture

How is it any different to FIAT currencies ?  What makes the USD piece of paper better than any of the others available at a far lower price in gold or exchange rate terms?

Acceptance, ubiquity, capitalisation, perception, depth of support, age, trust etc ...

Same reason Gold outshines silver, platinum, palladium etc

Goldilocks's picture

USD, Euro or Renminbi ...


Hillary Clinton at Benghazi Hearing: 'What Difference, Does It Make?'
http://www.youtube.com/watch?v=Ka0_nz53CcM (1:07)

aphlaque_duck's picture

Well for one thing, it's not "FIAT" in any sense of the word. Fiat is not an acronym, it's a word meaning an order or decree. I.e. the law says you must recognize these notes as currency.

Bitcoin is electronic commodity money, not fiat currency. Its value comes only from voluntary market supply and demand.


conscious being's picture

Commodity money? Bitcoin?  I think you're misinformed.

Bitcoin is a way to move notational value around with some opaqueness.

It's not a store of value.  To the poster above who said bitcoin enjoys its premium because "its the HTML" of crypto currencies.  What happens to your first mover advantage when XML of ccs shows up??

RockyRacoon's picture

...WHY should I buy BTC at $655 when I can get Litecoin at a fraction of the cost?

As long as anything is priced in dollars, there are problems.  Same with the PMs.  The dollar has to break for anything to find a final clearing price.  Until then, all trades are simple casino bets.