Blowback Begins: EU To Ditch Dollar In Payments For Iranian Oil

Authored by Mac Slavo via SHTFplan.com,

The dollar’s collapse is nearing.  The European Union is planning to switch it’s payments to the Euro for its oil purchases from Iran, eliminating United States dollar transactions.

Just one more nail to the US dollar’s coffin.  Its collapse is all but imminent at this point. The EU has successfully found a way to scoff at potential future sanctions on Iran by openly defying the US; and as an “added bonus,” they’ve helped seal the dollar’s fate.  According to RT, a diplomatic source with the EU has told a news outlet of the decision. 

 “I’m privy to the information that the EU is going to shift from dollar to euro to pay for crude from Iran,” said the diplomatic source. 

Brussels has been at odds with Washington over the US’s decision to withdrawal from the Iran nuclear deal, which was reached during the administration of Barack Obama. President Donald Trump has pledged to re-impose sanctions against the Islamic Republic as soon as he is able to do so. The Trump administration also has had plans to topple the current regime in Iran, according to leaked documents, and it looks like they’ve just given themselves the go-ahead:

The Washington Free Beacon has obtained a three-page white paper being circulated among National Security Council officials with drafted plans tospark regime change in Iranfollowing the US exit from the Obama-era nuclear deal and the re-imposition of tough sanctions aimed at toppling the Iranian regime.

The plan, authored by the Security Studies Group, or SSG, a national security think-tank that has close ties to senior White House national security officials, including – who else – National Security Adviser John Bolton, seeks to reshape longstanding American foreign policy toward Iran by emphasizing an explicit policy of regime change, something the Obama administration opposed when popular protests gripped Iran in 2009, writes the Free Beacon, which obtained a leaked copy of the circulating plans. –Zerohedge

However, it in the process, it is highly likely that the US dollar will collapse as nations distance themselves from the United States’ often disastrous foreign policies.  As RTreported, dozens of contracts signed between European businesses and the Islamic Republic could be at risk of cancellation if Brussels obeys Washington’s sanctions. This would damage Iran’s economy and European firms would lose a huge market in the Middle East. Switching to alternative settlement currencies allows both sides to continue trading despite US sanctions and will damage the dollar in the process. 

Earlier this week, EU foreign policy chief Federica Mogherini said that the foreign ministers of the UK, France, Germany, and Iran had agreed to work out practical solutions in response to Washington’s move in the next few weeks. The bloc is reportedly planning to maintain and deepen economic ties with Iran, including in the area of oil and gas supplies.

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DingleBarryObummer 52821740 Thu, 05/17/2018 - 05:35 Permalink

John Bolton says the USA is invading Iran in 2018 - Nathan Leal - Watchman's Cry - YouTube

People are saying Trump hired Bolton as a negotiating lever.  That argument is flimsy at best.  But, he's not even a good negotiating lever.

The world knows Americans are disgusted with Bush and Iraq war.  That's how lefty Obomba got voted in in the first place.  All Bolton does is discredit Trump, and kill morale and trust in government; and the whole world knows it.  This is heinously moronic; to reward abject failure with a job in the white house.

Trump is creating the Saud, Israel, and USA axis of evil.  It's as if Trump is trying to sabotage the country just like Obama was.  Everything he does seems to perpetuate the shift of global power over to the east.

Iran is not a threat to us.  The central banks are.  We have enemies in our own borders.  Andrew Jackson labeled the central bank a "den of thieves" and got rid of them.  Trump won't even label them. This central bank system where there is always more debt than existing currency, on a long enough timeline, only leads to one place: feudalism.

Edit:  There is a lot more of us than (((them))).  The reason they control the whole world is because they have us all atomized and divided and conquered over horseshit like kneeling footballers and Caitlin Jenner.  If you are not printing the money or receiving cushy billions of no interest loans, then you are one of )))us(((, straight, gay, man, woman, black, white, lefty, righty, repub, democrat, Christian, atheist; it don't matter.

BANISH THE BANKS. 

Corbett Report - Chinese World Order Rises in Ashes of Iran Deal - YouTube

In reply to by 52821740

new game Keyser Thu, 05/17/2018 - 06:11 Permalink

Hopelessness is coming to fruition! Fucking sad. this nation is eco-fail-toast.

current leadership is the worst war mongering fuks the drumph fuk could ever assemble.

idiocracy at the doctorate level. dolla demise will seal the fate of Mericas imperial mission.

treasury dump coming. maybe eom will be the kickoff with rollover of absurd amt from low to higher

interest rate? watch the interest portion crowd out mandatory and discretionary spending!

this is very seripous shit maynard. fate of this nation rides on this development.

dolla doing the last tango dance with recent rise? 

HYPER-STAGFLATION coming....

fork the bitch, all deserved. watch the rats dump dolla denominations(too)...

crisses that will make lehman moment look like a lemonade stand fail.

putin munches popcorn watching the demise. who has the oil being sold in yuan?

fuking idiots...

ps. when euro ends nato, then i know it is a serious bitch slap to uncle sam.

they should also demand base closures, same with s korea. get the fuk out of our country you war mongering fuks. go fuk yourselves- as in we are not your vassal dickless bitches. and right directly to trump in person,with a special fuk off you cuk bitting fukhead. take you ego and go fuk over your own people. oh, he is doing that too...

 

 

In reply to by Keyser

OverTheHedge Last of the Mi… Thu, 05/17/2018 - 07:16 Permalink

What interests me is how much oil, exactly, does Brussels buy? Or does some unelected mid-level bureaucrat speak for all 28 nations, sorry - all 27 nations plus UK who have no say in anything, but will do what they are told. Is this not an arrangement between private businesses across the EU? I suppose the EU needs fuel for their border patrol fleet in the med, which is so busy keeping immigrants out of the EU.

 

In reply to by Last of the Mi…

not-me---it-wa… OverTheHedge Thu, 05/17/2018 - 11:35 Permalink

doesn't matter how much they buy.  important thing is they are setting precedent.  sovereign nations refusing to use the dollar for oil....and not getting regime-changed!  how refreshing!

how much oil does the rest of the world buy, and how much is priced in dollars, and much do those extra foreign exchange costs add to the price paid?

the eu pays in euros, china pays in yuan, russia can accept any currency other than stinky old dollahs........pretty soon the rest of the world figures out the indispensable nation is actually pretty fucking dispensable.

 

 

In reply to by OverTheHedge

swmnguy Last of the Mi… Thu, 05/17/2018 - 07:20 Permalink

Apparently you don't understand that the Jihadists are Sunni Muslims, and the Iranians are Shi'a Muslims.  And that they hate each other.  Indeed, the Shi'a Muslims, like Iran, are the only group that has always fought against the Sunni Jihadists.  Europe, Israel and the US hire them as mercenaries and have supported their growth for self-serving reasons.

And what on Earth does Brexit have to do with it?  The UK isn't the source of US Dollars.

Skepticism about any "Mac Slavo SHTFPlan" story is warranted.  They're all breathless re-writes of real stories, with lots of false correlations and innuendo.  But if this is true, that Europe is thinking of ditching the US Dollar for oil transactions with Iran, it's confirmation that the US has dangerously overplayed its hand with control of the global reserve currency and banking resolution system.

As for exactly how that advances the decline of the dollar, I can't believe you've been a member here for 4-1/2 years and don't know that.

In reply to by Last of the Mi…

HowdyDoody philipat Thu, 05/17/2018 - 11:46 Permalink

"Apparently you don't understand that the Jihadists are Sunni Muslims"

Wrong. The jihadists are Wahhabists. They regard all other Muslims (Sunni, Shia, Alawite, etc), Christians and aetheists as apostates who should be killed. They were formed in the late 18th/early 19th centuries and were funded by excess USD arising from the Saudi petrodollar oil trade.

 

In reply to by philipat

Last of the Mi… swmnguy Thu, 05/17/2018 - 12:55 Permalink

The EU ditching the dollar for Iranian oil purchases has everything to do with the geo politics of Brexit and the US. Only a newt would not understand that.

As for any Iranian EVER fighting on behalf of or with the same interest of the US. I would say "no thanks".

"Death to America" after planeload of pallets of US dollars just kind of leaves me not giving a shit.

If you don't think the Iranian regime would thermo nuclear your ass in an instant just because you're American, then your just delusional.

In reply to by swmnguy

HenryHall Last of the Mi… Thu, 05/17/2018 - 07:49 Permalink

Realistically, the EU cannot switch to paying in, say, Reminbi or gold overnight. Their systems take time to change, adjust, and build the necessary trust (however misplaced that trust might be).

But The EU can switch overnight to paying in Euros instead of US dollars. The EU controls Euros, and the US can make it difficult to use dollars for any particular purpose without notice. So the dollar contracts get rewritten in Euros, that can happen very quickly, only a day or two.

So it makes sense for EU to switch to buying Iranian oil in Euros today. And maybe switch again next year, maybe not. Awaiting developments such as wider acceptance and trust of the petroYuan. Euros are perfectly acceptable to Iran in the short term at least.

In reply to by Last of the Mi…

philipat HenryHall Thu, 05/17/2018 - 08:01 Permalink

The problem with USD transactions is that even if a transaction involves a transfer between USD accounts in the same Bank, for instance in Germany, the transaction needs to clear through NY. That is how the US is able to make sanctions bite and why the ROW is now moving away from the USD to escape the ability of the US to hit them with sanctions.

Yes, the US can threaten European Companies who continue to do business with Iran with penalties, BUT the EU can pass regulations which prohibit EU Companies from complying with such sanctions and/or penalties such that EU Companies CANNOT comply under EU law. They can also impose counter-sanctions on US Companies operating in the EU, which might be directed in particular at the tax-evading "IP" Companies operating out of low tax jurisdictions such as Ireland. And, incidentally, you seem not to be aware that Iran recently announced that it will now use EUR for all external transactions and domestic accounting so the EU has the perfect cover for paying for Iranian oil in EUR.

So if Trump wants to get into a pissing match with its closest allies, game on. And it will eventually push Europe into a closer trading relationship with Russia and China/Eurasia via the OBOR initiative and AIIB, in which the US is not participating. Sanctions against Russia have hurt nobody but Europe (Not the US and not Russia) and the immigration problems Europe is facing are entirely as a result of all the stupid US ME wars. Perhaps Europe has had enough?

 

In reply to by HenryHall

east of eden HenryHall Thu, 05/17/2018 - 08:09 Permalink

What exactly do you think they have been working on for the last 10 years.

You enjoyed what the British called 'exorbitant privilege' since the end of WW2, and frankly, you have shown the world that not only are you not the 'good guys', but you are in fact nothing more than a collection of liars, crooks, thieves and murderers.

Enjoy your collapse. You deserve every bit of it.

In reply to by HenryHall

Robocop5626 Keyser Thu, 05/17/2018 - 13:24 Permalink

Need to relocate the UN from NYC to Brussels and halt any future payments for operations. Then withdraw from NATO. Let Europe best the brunt of defending themselves. Close all European bases and bring the troops home. Perhaps Iran could opt in to NATO and pay in oil. The world feels as entitled as our third generation of welfare recipients.

In reply to by Keyser

ogretown No1uNo Thu, 05/17/2018 - 10:50 Permalink

Another coalition?  We already have the Coalition of Courage (Russia-Syria-Iran) thus far besting the Coalition of Clowns (NATO-Israel) in their tawdry attempt to dismantle Syria.

Your suggested Coalition of the Willing would not even be able to get off the ground without heavy American backing. And while America might be working to that end, assembling the rinky-dink states, Vlad Putin is making headway in places like Egypt and Turkey. 

I would suggest the Clownage not be funded and armed by America, thereby allowing the ME to solve its own problems.  Including of course, the new oil pipeline that seems to be the main driver of the current spate of hostilities.  

In reply to by No1uNo

lucitanian DingleBarryObummer Thu, 05/17/2018 - 06:23 Permalink

" Everything he does seems to perpetuate the shift of global power over to the east. "

Probably related and as significant:

Merkel’s 2nd visit to Sochi in a fortnight: Russia-Germany détente on the horizon?

German Chancellor Angela Merkel's working visit to Sochi on Friday could signal a positive shift in EU-Russia relations, as the European bloc reassesses its fealty to Washington.

In reply to by DingleBarryObummer

OutOfThinAir Justin Case Thu, 05/17/2018 - 10:13 Permalink

Totally. My Dad has been drinking OJ hard, tough for him to hear that he's just Obama for a different audience.

No way Trump has been in mega real estate deals and constantly in debt/insolvency and isn't in the pockets of those who really run the show.

A more interesting question is if international disagreements/conflicts are real or for show. They've owned both sides before and the conflicts seemed plenty real at the time.

In reply to by Justin Case

PrayingMantis OutOfThinAir Thu, 05/17/2018 - 13:55 Permalink

 

... often, one could tell where a family’s leanings, preferences and biases are by their charitable causes and the Trump family, for over half a century, had given financial support and donated assets generously to Khazarian Israhelli  causes ... >>> https://www.breakingisraelnews.com/78896/trump-family-50-year-history-donating-jewish-israeli-causes/ ...

 

... these lavish generosities did not escape the watchful eyes of the luciferian Rothschild clan and it would explain the bailouts of Trump’s bankruptcies by Rothschild’s banksters and their minions ... (“luciferian” might be an apt description of these despicable families as depicted in this leaked pictorials of one of their quite unusual get-togethers with guests adorned with bird cages and animal horned masks worthy of a satanic celebration and with dinner tables graced with dismembered dolls and crushed heads and some with reclining mannequins .. >>> https://vigilantcitizen.com/latestnews/pictures-rothschild-family/ ...

 

... it is no surprise why Trump moved the US embassy from Tel Aviv to Jerusalem, the capital of Palestine, (which event was baptized by the blood of massacred defenceless Palestinians), to re-affirm Trump’s commitment to his masters as a promise fulfilled for saving his crumbling business empire.  Trump’s focus had been always towards Khazarian Israhelli causes, hence, MAGA ... Make Ashkenazis Great Again ... all the rest are just kabuki presentations ...

 

... the best part of waking up is opening your eyes...

 

 

In reply to by OutOfThinAir

mtl4 52821740 Thu, 05/17/2018 - 10:38 Permalink

Not even close.......think about how much debt is actually issued in USD worldwide then get back to us.

Look how many times in history EU countries have reissued their currency after collapse? How many times has the US done that? Big fat zero!

Huge news will be when they have to reissue the failed Euro.

In reply to by 52821740

Fireman GreatUncle Thu, 05/17/2018 - 07:36 Permalink

I'll take camel steaks any day in lieu of the IOU Saudi Mercan fiat filth petroscrip toilet paper "reserve currency" Pentacon backed (snigger) dollah.

 

Onward to USSA'S shanty paradi$e in Trumpville and the long awaited much overdue civil war reloaded.

The entire planet is counting on it except for the khazarian abomination that is.

In reply to by GreatUncle

rphb GreatUncle Thu, 05/17/2018 - 08:15 Permalink

As random number name guy said, not all fiats are created equal. What have given the USD so much power is its monopole status, break that and it becomes just another fiat among others.

And honestly, why wouldn't the EU want to be able to buy oil in Euroes, they can print it themselves, that is so much cheaper then using a third party

In reply to by GreatUncle

lakecity55 Thu, 05/17/2018 - 05:04 Permalink

Somewhere, a Zionist is rubbing his hands together admiring his Cunning Plan!

"I told ya, Schlomo, we short the Dollar and go long Yen and Euro!"