by MEMRI
"Macron And Merkel Were Asked To Create A 'Petro-Euro' – They Can't Do It Without Moscow"
An
article published by the Russian news agency Ria.ru, headlined "Macron
And Merkel Were Asked To Create A 'Petro-Euro' – They Can't Do It
Without Moscow," stresses that during the May 24-26, 2018 St. Petersburg
International Forum,[1] Russian, First
Deputy Prime Minister and Finance Minister Anton Siluanov, openly
offered Russia's European partners a kind of barter along the lines of
"the EU refuses to support the American economic pressure on Russia, and
Russia helps the EU start de-dollarization."
The article suggests that if Europe
does not want be the "vassal" of the U.S. and chooses "freedom," then it
will have to challenge the dollar, and will find it impossible to
refuse Russia's offer.
The following are excerpts from the Ria.ru article:[2]
(Source: Media.nakanune.ru; Kremlin.ru)
The St. Petersburg International Forum Proved That Russia Is One Of The Poles Of The New, Multipolar World Order
"Judging by the Western mass media, the
most important thing in the economic forum in St. Petersburg was that
political and economic global game changers came to Russia: Emmanuel
Macron, Shinzo Abe, Christine Lagarde. For a few days, St. Petersburg
also became a center of attraction for those who want to feel which way
the wind of world politics and economy blows, as well as for those who
count on making big money from cooperation with Russia or work in
Russia. Somehow, it became evident that Russia's supposed isolation from
the world community is nothing but a long-expired myth of dull-witted
Western propagandists, who can no longer explain to their readers why
Patrick Pouyanné, chairman of the French oil giant Total,
Faustin-Archange Touadéra, president of the Central African Republic,
and writer Nassim Nicholas Taleb are all rushing to St. Petersburg at
the same time.
"From the perspective of demonstrating
that Russia is one of the poles of the new, multipolar world order, and
that it one cannot do without it when solving any even slightly
important geopolitical or geoeconomic issue, the forum has already
undoubtedly achieved its goal.
"At the same time, it should be pointed
out that a few rather interesting proposals have already been expressed
during the meeting. They have been vastly underestimated by the Western
mass media, but their implementation may have a strong impact on the
future balance of power in the world.
"For example, Russian First Deputy Prime
Minister and Finance Minister Anton Siluanov, almost openly offered
Russia's European partners a kind of barter trade along the lines of 'The EU refuses to support the American economic pressure on Russia, and Russia helps the EU start de-dollarization.'
This is the right way to interpret the Russian official's phrase about
Moscow's readiness to use euros instead of dollars for financial
settlements with the European Union.
"'Therefore, if our European partners do
not support the U.S. economic policy towards Russia, we definitely see a
way out in using the European currency and European infrastructure
organizations for financial settlements, for payments for goods and
services, which often fall under various kinds of restrictions today,'
noted Siluanov. He also pointed out that Russia is already trying to use
national currencies in financial settlements with other countries.
Apparently, he meant the CIS countries, Iran, and, of course, China.
"If one calls things by their proper
names, the European Union has been offered quite a feasible plan to
create a 'petro-euro,' which can easily edge out the petrodollar in the
global market or, at least, in the eastern hemisphere. The geopolitical
consequences of this development cannot be overestimated.
"Have you ever wondered why the American
system of financial dominance is based on the petrodollar? The U.S. does
not produce anything that the world would have to buy for dollars,
thereby creating demand for this currency.
"In modern world, one could maybe name
American processors (and only by a long stretch of the imagination) as
such a 'super-necessary' product. But the volume of trade in processors
is not that great, and many third world countries do not need them.
However, oil is needed by everyone, and, by making the entire world pay
for oil (not produced in the U.S., by the way!) in dollars, the
Americans have managed to secure constant demand for U.S. currency, and
created a situation in which refusing to work with the dollar system is
not an inconvenience but an economic disaster."
Should Europe Decide It Is Strong Enough To Choose Freedom, It Will Find It Impossible To Refuse Russia's Offer
"In fact, it is not American knowhow, but a
modernized scheme used by the British Empire: Back in its prime, it
created a situation in which copper and other metals necessary for the
development of industry could be bought almost exclusively for British
pounds and almost exclusively on the London Exchange.
"To challenge the dollar system, its
opponents must possess several elements at once – elements that are
rather difficult to find in one state. On the one hand, they need a
powerful and very well-developed financial system, which would be open
to external players and trusted by other countries.
"On the other hand, they need control over
certain resources, the consumption of which is not an option but a
vital necessity for all those participating in global trade. Moreover,
they need a sufficiently deep and rich national market that uses a
specific currency.
"And a cherry on top (but a necessary
one): One must have a well-developed army, able not only to defend its
own territory but to effectively project its military power to other
regions on the planet in order to expand and protect the zone in which
the specific rival to the dollar is used. If this military shield does
not exist, any competing currency zone will be easily shrunk with the
help of American aircraft carrier groups.
"China has a relatively deep domestic
market, but its financial system does not inspire great trust in the
world, and even Chinese officials themselves acknowledge (and try to
solve) its problems with being open to the outer world. As for
controlling resources and the ability and readiness to project its
military muscle, the situation in China is far from ideal.
"The European Union, in contrast, has a
well-developed financial system, which enjoys considerable trust in the
world, and it has a deep and rich European market. But its control over
resources and its ability to project military power are a disaster, and
the U.S. is trying to maintain this disastrous state of affairs,
blocking deliveries of Iranian oil to the EU and trying to make the EU
switch to American LNG (liquefied natural gas).
"Russia, unfortunately, cannot boast of a
deep and financially reliable market that could rival the markets of the
EU, China or the U.S. in appeal. We cannot – and will not be able to in
the near future – boast of a developed financial system with worldwide
reach and recognition. But we have key resources, as well as the ability
and readiness to effectively use military force to defend our national
interests. It is easy to see that synergetic cooperation along the line
of Russia-EU or Russia-China, or even in the Russia-China-EU triangle,
practically offers itself. And it is natural for the mere possibility of
such cooperation to provoke a severe allergic reaction on the other
side of the Atlantic.
"Now, the European Union, or rather, the
European political and economic elite, must determine (primarily for its
own benefit) the answer to the question asked by French Economy
Minister Bruno Le Maire: 'Do we want to be vassals who obey decisions
taken by the U.S. while clinging to the hem of their trousers?' If
Europe decides it is strong enough to choose freedom, it will find it
impossible to refuse Russia's offer."
[1] See MEMRI Special Dispatch No. 7501, Putin
At St. Petersburg International Economic Forum: 'State Sovereignty And
National Identity Have Unconditional Value' – Part I, June 1, 2018, and MEMRI Special Dispatch No. 7504, At
St. Petersburg International Economic Forum – Part II: Putin: 'Europe
Depends On The U.S. In Terms Of Security – But There Is No Need To
Worry, We Can Help With Security'; Macron: 'We Really Need To Build A
Useful World Order', June 4, 2018.
[2] Ria.ru, May 25, 2018. The article was written by Ivan Danilov.
MEMRI
Source: https://www.memri.org/reports/russian-finance-minister-siluanov-if-eu-refuses-support-us-economic-pressure-russia-%E2%80%93-moscow
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