Moscow & Cairo to drop USD, use national currencies in bilateral trade – Putin

Now that the Mubarak regime through political allies is back in power after restoring the country through military channels, it likely has a score to settle with Washington and how it’s going to do this is through partnering with Russia (and possibly China). Russia already has military deals in the pipeline (See also HERE) with Egypt. Once the military deals begin and the country is stabilized once more, look for further political and economic cooperation like we see here. It doesn’t look like America is heeding the call to protect its interests in Egypt and stop the spread of neo-Soviet influence.

 

Russia and Egypt might soon exclude the US dollar and use their national currencies in the settlement of accounts in bilateral trade, Russian President Vladimir Putin said in an interview to Egyptian media ahead of his Monday visit to the country.

The issue of abandoning the dollar in trade is “being actively discussed,” Putin told Al-Ahram daily newspaper ahead of his two-day trip to Egypt. The Russian president was invited for a bilateral meeting by his Egyptian counterpart Abdul Fattah al-Sisi. Continue reading