Russian President Vladmir Putin has called for a "petro-ruble" that will compete with "petro-dollars" in the world currency markets. Plans to make the ruble fully convertible on world markets will be complete by July 1.
The value of the dollars we use to pay for foreign oil will probably decline. If it does the price of gasoline will probably spike again.
1 comment:
It will take more than Putin's wishes to make it happen. If it does happen, it would be with a currency that is already stronger, such as the euro.
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