Tag Archives: World news

Putin tries to end reliance on dollar in trade deals betinews.com

Vladimir Putin Wants USA Dollars Banned From Russian Trade.

President Vladimir Putin has called for greater use of the ruble in Russian oil deals and criticized continued use of the U.S. dollar. The Russian leader spoke out on Tuesday and proposed the move which appears to be aimed at strengthening the severely weakened Russian currency while also reducing the country’s dependence on the dollar, according to RT. Due to tumbling world oil prices the ruble has lost almost half of its value against the dollar in the past 12 months. Oil is Russia’s main export, but the country has also suffered due to Western sanctions imposed after the Ukraine conflict and a sharp economic downturn at home.

The idea that oil deals should be paid for in rubles and other non-dollar currencies such as the Chinese yuan have been proposed by Russian officials in the past. The idea is to reduce Russia’s reliance on the Western financial system. “I would like to mention one crucial issue in the development of the energy industry, and the economy as a whole. It is a question of finally stopping the use of foreign currency in internal trade,” said Putin at the fuel and energy presidential commission on Tuesday

FULL REPORT Putin tries to end reliance on dollar in trade deals

 

Iraqi and Kurdish forces retake control of Mosul Dam

 Iraqi security forces and Kurdish fighters on Monday wrested back control of the country’s largest dam from the hands of Islamic militants who captured it less than two weeks ago, an army spokesman in Baghdad said.  BAGHDAD (AP) — … read more

Ukrainian jet was shot down by missile from a Russian plane

Ukrainian Prime Minister Arseniy Yatsenyuk, right, talks to an officer during inspection of a Ukrainian Army position outside the eastern town of Slovyansk, Ukraine, Wednesday, July 16, 2014. Yatsenyuk hopes to restore the infrastructure in Donetsk and Lugansk regions from state budget, thanks to private investors and international aid, he said during his visit to the Slovyansk on Wednesday. (AP Photo/Andrew Kravchenko, Pool)

A Ukrainian fighter jet was shot down by an air-to-air missile from a Russian plane and Ukrainian troops were fired upon by missiles from a village inside Russia, a spokesman for Ukraine’s Security Council said Thursday. The alleged episodes mark … read more

US sanctions hurt bilateral ties, US firms : Putin

PUTIN of Russia

President Vladimir Putin on Thursday lamented the latest round of U.S. sanctions against Russia, saying they will stalemate bilateral relations and hurt not only Russian but also American businesses. Russia’s benchmark MICEX was down 2.6 percent in early afternoon trading … read more

US and EU imposed new economic sanctions on Russia

US President Barack Obama

Struggling to defuse the persistent crisis in Ukraine, both the U.S. and European Union imposed new economic sanctions on Russia Wednesday, with President Barack Obama declaring that Russian leaders must see that their actions supporting rebels “have consequences.” Though the … read more

Gaza : Israel strikes 10 militant sites

An Iron Dome air defense system fires to intercept a rocket from Gaza Strip in the costal city of Ashkelon, Israel, Saturday, July 5, 2014. The Israeli military said its “Iron Dome” defense system intercepted the rockets that were aimed at Beersheba. The military also said at least 29 other rockets and mortars were fired from the Gaza Strip at Israel over the weekend. It said it had retaliated with airstrikes on militant sites in Gaza. (AP Photo/Tsafrir Abayov)

Israel’s military carried out airstrikes on 10 sites in the Gaza Strip early Sunday, the army said, as tensions remained high following weekend clashes between Israeli police and demonstrators in Jerusalem and Arab towns in northern Israel. The Israeli airstrikes … read more

Ukraine troops have taken a rebel stronghold

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Government troops have taken a rebel stronghold in east Ukraine, the country’s president and a spokesman for the rebels said Saturday. President Petro Poroshenko said in a statement that government troops took Slovyansk, a city of about 100,000 that has … read more

Iraq PM says hopes for deal on new government

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Iraq’s Prime Minister Nuri al-Maliki said on Wednesday that he hoped to overcome the challenges blocking the formation of a new government, a day after the new parliament’s first session ended without agreement on top government posts. “A state of … read more

Putin compares Ukraine to Iraq, Syria and Libya

PUTIN of Russia

Putin vows to defend Russian interests as Ukraine violence again escalates MOSCOW — Russia is involved in a historic effort to defend its civilization, President Vladimir Putin said Tuesday, vowing to protect the interests of the Russian community abroad as … read more

Al-Qaida breakaway formally declares Islamic State

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BAGHDAD (AP) — The al-Qaida breakaway group that has seized much of northern Syria and huge tracks of neighboring Iraq formally declared the creation of an Islamic state on Sunday in the territory under its control. The spokesman for the … read more