Russia Plans Return to US Dollar Settlement as Strategic Cooperation Talks Emerge
TLDR: Russia and US combined oil production could reach 22.6 million barrels daily, reshaping global markets Moscow controls 44% of enriched uranium and 43% of palladium, critical for US industrial supply chains Russia-China trade hit $245B in 2024, spurring Moscow to diversify away from yuan-heavy dependence Russian reserves climbed to record $833B with over $400B in gold, providing negotiation leverage Russia is reportedly planning to shift back toward US dollar settlement systems while exploring cooperation with the United States across multiple strategic sectors. The discussions encompass fossil fuels, natural gas, offshore oil drilling, and critical raw materials. This development marks a potential reversal of Moscow’s decade-long effort to reduce dollar exposure. The move could reshape global commodity markets and currency dynamics while altering geopolitical alliances between major powers. Energy Cooperation Could Reshape Global Markets A...