Petro-Dollar Death Watch: Saudi And Russia Arms & Oil Deals

This is sure to be contentious. Reports coming in now that President Putin and King Salman just hammered another couple nails in the U.S. dollar coffin…

First this:

To this:

To this:

MOSCOW (Reuters) – Russian President Vladimir Putin hosted Saudi Arabia’s King Salman for talks at the Kremlin on Thursday, cementing a relationship that is pivotal for world oil prices and could decide the outcome of the conflict in Syria.

King Salman, the first sitting Saudi monarch ever to visit Russia, led a delegation to Moscow that agreed joint investment deals worth several billion dollars, providing much-needed investment for a Russian economy battered by low oil prices and Western sanctions.

Saudi Arabia said it had signed a memorandum of understanding on the purchase from Russia of S-400 air defense systems. That marked a shift for the kingdom, which buys most of its military kit from the United States and Britain.

Among the deals was an agreement between Russian sovereign wealth fund RDIF and Saudi Arabia’s Public Investment Fund to invest up to $100 million in transport projects in Russia.

The two countries also signed a deal to set up a $1 billion joint investment fund.

Another memorandum of understanding was signed under which Russian petrochemicals firm Sibur would explore cooperation with Saudi Arabia.

RDIF head Kirill Dmitriev said his fund was interested in partnering with Saudi investors to acquire a minority stake in Russian oilfield services firm Eurasia Drilling.

Absent from the slew of deals was any agreement on Saudi Aramco taking a stake in an Arctic liquefied natural gas project run by Russia’s Novatek.

Russian Energy Minister Alexander Novak said earlier this month that Saudi officials were studying joint gas projects with Novatek. However, Aramco chief executive Amin Nasser said such a deal was not being discussed at this stage.

And then, coming from the WSJ:

So we are waiting to hear anything official from President Trump about this. Surely he has stuff to say. He has, after all, been all over the news like a hawk:

But just case he doesn’t get to it today, please understand that everything is awesome!

Cue the simultaneous stock market crash, bond market crash, death of the petro-dollar, fiat currency crisis and hyperinflation?

probably nothing…

This article (Petro-Dollar Death Watch: Saudi And Russia Arms & Oil Deals) was originally published on Silver Doctors and syndicated by The Event Chronicle

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