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Who Needs the U.S. Any More?? Russia And China Finally Sign Historic $400 BILLION “Holy Grail” Gas Deal

from ZeroHedge:

There was some trepidation yesterday when after the first day of Putin’s visit to China the two countries did not announce the completion of the long-awaited “holy grail” gas dead, and fears that it may get scuttled over price negotiations. It wasn’t: moments ago Russia’s Gazprom and China’s CNPC announced, that after a decade of negotiations, the two nations signed a 30 year gas contract amounting to around $400 billion. And with the west doing all it can to alienate Russia and to force it into China’s embrace, this is merely the beginning of what will be a far closer commercial (and political) relationship between China and Russia.

Read More @ zerohedge.com

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1 comment to Who Needs the U.S. Any More?? Russia And China Finally Sign Historic $400 BILLION “Holy Grail” Gas Deal

  • Rodster

    The deal was a LOT less than previously stated. It was supposed to be in the range of $500-600B plus for 30 years. At $400 that’s roughly $13.4B p/y which is a drop in the bucket. So it appears Putin acquiesced to the pricing demands by the Chinese as they know the Russians need the Chinese more than the other way around.

    This was more of a fuck off statement to the West in particular the US and EU who stirred up shit in Russia’s backyard. They will be dealing in their local currencies so no USD will be needed. Again another dent to the world’s reserve currency.

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