And he and his handlers are handling the war between Russia and Ukraine exactly the wrong way as well.

Specifically, the policies of financially isolating Russia are creating a bifurcated world that the United States will no longer dominate. In the process, he is ensuring that the U.S. dollar will no longer reign as the world’s reserve currency — which is going to lead to a collapse of our economy when countries stop buying our debt.

Case in point: India’s mass purchases of cheap Russian fossil fuels are more frequently being made in currencies other than the dollar, according to Reuters.

“U.S.-led international sanctions on Russia have begun to erode the dollar’s decades-old dominance of international oil trade as most deals with India – Russia’s top outlet for seaborne crude – have been settled in other currencies,” the report this week began.

The dollar’s dominance has been challenged from time to time, but it has persisted due to the undeniable benefits of utilizing the most universally recognized currency for commercial purposes.

India’s oil trading, prompted by the upheaval of sanctions and the conflict in Ukraine, presents the most compelling proof to date of a move towards alternative currencies that could have long-term implications, the report continued.

Ranked as the third-largest importer of oil globally, India began procuring the majority of its oil from Russia, which emerged as its top supplier after European nations rejected Moscow’s oil in response to its invasion of Ukraine that started in February of last year.

Following the imposition of an oil price ceiling on Russia by a coalition opposing the war on December 5th, multiple sources from the oil trading and banking sectors have disclosed that Indian purchasers have been utilizing non-dollar currencies, such as the United Arab Emirates dirham and, more recently, the Russian ruble, to pay for the majority of Russian oil. This shift, which has not been previously reported, has amounted to several hundred million dollars in transactions over the last three months, according to the sources who spoke to Reuters.

Last year, the Group of Seven (G7) economies, the European Union, and Australia established a price cap with the aim of prohibiting Western services and shipping from trading Russian oil, except when it is sold at a mandated low price, to deprive Moscow of funds for its war.

According to three sources with direct knowledge, a few Dubai-based traders, as well as Russian energy firms Gazprom and Rosneft, have been seeking non-dollar payments for certain specialized grades of Russian oil that have been sold above the $60 per barrel price limit in recent weeks, the report noted.

Due to the sensitivity of the matter, the sources requested anonymity.

Although these sales constitute a minor portion of Russia’s overall sales to India and do not seem to breach the sanctions, which US officials and experts believed could be circumvented by non-Western services such as Russian shipping and insurance, the trade sources and former Russian and US economic officials told Reuters that three Indian banks supported some of the transactions. This is in line with Moscow’s efforts to decrease its dependence on the US dollar, while traders aim to evade sanctions, Reuters added.

If the dollar loses its global reserve currency status, it would have a significant impact on the United States and the world economy. The demand for the dollar would decrease, which would lead to a depreciation in its value.

This would make imports more expensive and increase inflation in the United States. Moreover, the United States would lose the privilege of being able to borrow in its own currency, meaning it would have to pay higher interest rates to borrow money from other countries. This could lead to a decrease in foreign investment in the United States, which would slow down economic growth.

And that’s exactly what is happening under Biden.

Sources include:

• Reuters.com
• NSJOnline.com
• NATURAL NEWS

UltraTech Cement is bringing in 157,000 tons of coal from SUEK, one of the world’s largest integrated energy companies with mining, heat, power generating and logistics assets in Russia.

The cargo was loaded on the bulk carrier MV Mangas from Russia’s port of Vanino as per the document. It cites an invoice dated June 5  amounting to 172,652,900 yuan ($25.81 million).

Many nations relying on Russian coal and other oil commodities are trying to adjust and find ways without breaking the sanctions. The most recent coal deal with Russia could support Beijing’s efforts to internationalize the yuan currency and dispute the ruling dominance of the U.S. dollar in worldwide trade. This could also help out Russia from the effects of over 10,000 sanctions currently imposed by the West on Moscow, its citizens and its companies.

“This move is significant. I have never heard of any Indian entity paying in yuan for international trade in the last 25 years of my career. This is basically circumventing the USD,” a Singapore-based currency trader said.

India has set up a rupee payment mechanism for trade with Russia that has not yet materialized. However, China has dealt with Russia for many years using the yuan.

“If the rupee-yuan-ruble route turns out to be favorable, the businesses have every reason and incentive to switch over. This is likely to happen more,” said Subash Chandra Garg, a former economic affairs secretary at India’s finance ministry.

According to a recent report from Reuters, India’s energy imports from Russia have spiked in recent weeks because of traders’ steep discount offers.

Russian coal traders’ business units in Dubai have become the active facilitators of deals with India. Singapore has reportedly backed off in fear of provoking western nations that invoked sanctions against Russia.

A Russian coal trader based in Dubai said the biggest challenge was sending rubles to Russia. “You can either take payments in yuan in Dubai or receive it in dollars or (Arab Emirates) dirham and convert it to ruble,” he said, adding it was easier to convert the yuan to ruble and was preferred over other currencies.

Collapse of U.S. dollar reserve is imminent

Last month, Russian President Vladimir Putin announced that the BRICS nations (Brazil, Russia, India, China, and South Africa) are working on setting up a new and reliable alternative mechanism for international payments.

“The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” Putin said during the BRICS economic and business forum.

These emerging economic nations are boosting the use of local currencies in mutual trade. The current coal purchase using the yuan could be one of the initial actions in promoting the use of another legal tender other than the petrodollar. (Related: COUNTDOWN to collapse of the petrodollar… America’s dollar dominance is coming to a sudden, catastrophic end… total CHAOS will follow.)

Andy Schectman, owner and CEO of Miles Franklin Ltd. Precious Metals, in his appearance in “Brighteon Conversations” with the Health Ranger Mike Adams, said the collapse of the U.S. dollar reserve is imminent.

“The BRICS nations are all coalescing and the digital yuan has already done 10 billion in transactions,” he said.

When the dollar collapses, he said, the Great Reset will begin. “There’s your [World Economic Forum founder] Klaus Schwab saying you’ll own nothing and be happy. Because everything that is of any value in this country [U.S.], the four pillars of wealth – dollars, stocks, bonds, real estate – will collapse in one swift moment,” he stated.

It is bound to happen because of the weaponization of the dollar as the world reserve currency. “America cannot tell the world who can and can’t use it by pushing Russia right into the open arms of China and its CIP [cross interbank payment] system,” Schectman explained.

He went on to say that 90 percent of the world has had to own dollars to buy oil. “Now, you have all of the world dumping dollars. And if you think inflation is bad, wait until all those dollars come flooding home creating massive hyperinflation,” he said.

Visit CurrencyReset.news for more news related to the collapse of U.S. dollar in world trade. Watch the below video with Andy Schectman discussing the collapse of the U.S. dollar’s global reserve status.

This video is from the Health Ranger Report channel on Brighteon.com.

More related stories:

• IMF official warns Western sanctions on Russia are threatening the dollar as world’s reserve currency.
• Dollar collapse could be the most significant result of the Russia-Ukraine war as gold rises, analysis warns.
• Fed chair admits US dollar’s international standing could collapse.
• Saudis consider using yuan over dollar in oil sales; move could signal collapse of petrodollar and the American economy.

Sources include:

• Reuters.com
• GreatGameIndia.com
• Castellum.ai
• EconomicTimes.IndiaTimes.com
• Brighteon.com
• NATURAL NEWS