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this post was submitted on 22 Jan 2024
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Peoples who are interested in globel geoplolitics care. The fucking UN of all things sudently opening a Russian account to deal in roubles is not an insignificant move, it undelign just how significant the ongoing shift in the currency makeup of international trade is and show that international organisations are staring to realize that they can't continue to deal exclusively in dollars forever.
Did you read the article? The UN opened an account for Russia to pay into the UN climate funding program while the bank tried to ask the US if it can pay into that specific program in rubles.
You should read more than a headline before jumping to conclusions.
I did read it and even re-read it after reading your comment and I have to say that I don't see how the article contradict what I said.
It's possible I misundersood (not a native english speaker), so please tell me where you think I'm wrong.
You said deal in roubles, implying a two way transaction. This is a one way transaction from Russia to the UN climate funding program.
https://unfccc.int/topics/climate-finance/resources/reports-of-the-special-climate-change-fund
I see
I am pretty sure all monetary exchanges are necessarily two way. Unless they plan to just bury that money in their backyard ?
A two way transaction would be me giving you $3 for a loaf of bread.
I'm referring to this as a one way transaction like if I were to donate to a charity.