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Butifldrm

"It's A Huge Story": China Launching "Petroyuan" In Two Months

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22 minutes ago, Pitcher said:

Back to my Trading Desk.  I’m killing it today. Traded NFLX this morning for nice gainer. $$$ 

 

You go boy!!! Best of good buys, and don't worry about being cranky, we all have our moments!!! LOL Trust me sometimes I wish I could bite my tongue!!!

 

B/A

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19 hours ago, Pitcher said:

Look I get it, you are LEFT leaning and your candidate got smoked.  It hurts but you’ll be fine, eventually.  Bashing Trump and Conservatives may make you feel better but it’s only delaying your recovery.  Let it go and go vote for some Socialist Democrat in a few weeks. 

 

I apologize for being so full of contempt but I meant it when I said in my last post, I resent your continued bashing of our President just because you don’t like him.  I don’t necessarily dislike you and I don’t Red ruby but if you are a true seeker of the truth then you and a few others on this site would answer my earlier questions.  If you are a truth seeker then you should discuss or state what HRC and her supporters in the DOJ and FBI have done to harm the Constitution.  

 

HEAR!!! HEAR!!!

 

Articulate AND Exacting, Pitcher, Good Show!!! AND The Best Of Your Week To You, Sir!!! :tiphat:

 

:backflip:       :backflip:       :backflip:

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IMF Special Drawing Rights

The International Monetary Fund (IMF) was founded in 1945 as part of the Bretton Woods system agreement a year earlier. The goal of the IMF is to foster macroeconomic stability and global growth and to reduce poverty around the world. 

Interestingly, economist John Maynard Keynes first proposed a supranational currency known as "Bancor" at the Bretton Woods conference, but his proposal was rejected. Instead, the IMF adopted a system of pegged exchange rates tied to the value of gold bullion. At the time, the world reserve assets were the US Dollar and gold. However, there was not enough supply of these internationally to keep sufficient reserves for the IMF to function properly. In order to fulfill its mandate, in 1969 the IMF created Special Drawing Rights, or SDRs as a supplement to help fund its stabilization efforts. 

By 1973, the original Bretton Woods system had been almost completely abandoned. President Nixon restricted gold outflows from the United States, and major currencies shifted from a pegged system to a floating exchange rate regime. Still, the SDR system has been largely successful, with the IMF allocating approximately SDR 183 Billion, providing needed liquidity and credit to the global financial system.

Why SDRs Are Needed

According to the IMF, SDRs (or XDR) are an international reserve asset to supplement its member countries' official money reserves. Technically, the SDR is neither a currency nor a claim on the IMF itself. Instead, it is a potential claim against the currencies of IMF members.

An SDR allocation is a low-cost method of adding to member nations' international reserves, allowing members to reduce their reliance on more expensive domestic or external debt. Developing nations can use SDRs as a cost-free alternative to accumulating foreign currency reserves through more expensive means, such as borrowing or running current account surpluses.

The SDR is also used by some international organizations as a unit of account where exchange rate volatility would be too extreme. Such organizations include the African Development Bank, Arab Monetary Fund, Bank for International Settlements, and the Islamic Development Bank. By using SDRs, local currency fluctuations do not have as large of an impact. SDRs can only be held by IMF member countries and not by individuals, investment companies, or corporations.

As of the year 2000, four countries peg their currency to the value of an SDR, even though the IMF discourages such action. 

The Value of the SDR

The value of an SDR was initially the equivalent of one US Dollar at the time or 0.88671 grams of gold. When the gold standard changed over to a floating currency system, the SDR instead became valued as a basket of world reserve currencies. Currently, this basket includes the US Dollar, Japanese Yen, Euro, and British Pound.

Every five years, the IMF reviews the components of the currency basket to make sure that its holdings represent the most widely used global currencies. It is possible that when the next review takes place in 2015, more currencies may be considered than the current four. Recent speculation that the IMF might add the Chinese yuan (CNY) would make it the first emerging currency to be added to the IMF's reserves.

The SDR's interest rate is used for calculating interest due from members of IMF loans paid from SDR holdings. SDRs are allocated by the IMF to its member countries and are backed by the full faith and credit of the member countries' governments.

Today, 1 SDR = 1.3873 US dollars, down a little more than 10% over the past 12 months versus the dollar, a result of the relative strengthening of the dollar against the three other currencies in the SDR basket.

The Bottom Line

Special drawing rights are a world reserve asset whose value is based on a basket of four major international currencies. SDRs are used by the IMF to make emergency loans and are used by developing nations to shore up their currency reserves without the need to borrow at high-interest rates or run current account surpluses at the detriment of economic growth. While SDRs themselves are not currencies, and can only be accessed by members of the IMF, they play a crucial role in maintaining macroeconomic stability and global growth by providing emergency liquidity and credit when traditional methods fall short.



Read more: IMF Special Drawing Rights | Investopedia https://www.investopedia.com/articles/forex/040215/what-are-imf-special-drawing-rights.asp#ixzz5SgLRNGuS
 

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Russia decides to reduce the dollar deal

14:04 - 02/10/2018
0
%D8%AF%D9%88%D9%84%D8%A7%D8%B15-696x435.

Information / Baghdad ..

Russian President Vladimir Putin has backed his proposal to reduce the dollar's handling of the Russian economy, the head of VTP Bank Andrei Kostin said Tuesday.

Costin said, "If the president has supported his proposals to reduce the dollar:" In general, yes. "

Costin pointed out that the talk is not about the total abandonment of the use of the dollar. "This is a long-term plan that aims to change global trends, not a temporary immediate solution ... I think it will take at least five years," Kostin said.

In recent months, under US sanctions against Russia and possible additional packages, debate has intensified on the need to reduce dollar trading in the Russian economy. One of the most prominent plans became the plan of the President of the bank "VTB" Andre Kostin, who gave the Russian President proposals aimed at giving up the dollar in international payments and the transition to accounting in national currencies in foreign trade.

The plan also pointed to the need to develop financial markets in Russia in order to attract investors, including foreigners

 

http://www.almaalomah.com/2018/10/02/350254/

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Goldman Sachs: US sanctions affected the status of the dollar as a reserve currency

Goldman Sachs: US sanctions affected the status of the dollar as a reserve currency
 
 16 October 2018 01:20 PM

Direct : "Goldman Sachs , " the bank said that the decline in the share of the dollar as reserve currency global central banks in the latest reading is likely to be the result of the US administration moves against Russia.

The central bank is likely to have sold between $ 85 billion and $ 150 billion of assets in the second quarter of 2018, the bank said in a note issued on Monday.

He said this came after the United States applied economic sanctions on business and government in Russia last April.

In the second quarter of the year, the dollar's share as a reserve currency of global central banks fell to 62.3 percent, falling at the lowest level since 2013, while the euro, yuan and yen share rose in the same period.

"The Russian central bank is likely to have sold a large part of its dollar assets," said Zack Pandil, co-chair of Emerging Markets and Global Exchange Rates within the US bank. All of the dollar-denominated Treasuries held by Moscow are likely to be converted into Euro- The second".

This may account for more than half of the decline in the share of dollar reserves during the quarter.

"The risk of sanctions explains a large part of the marked decline." The US dollar share of reserve assets could fall further

if large banks make similar changes to the actions of the Russian central bank over time, "Banderle said.

 

https://www.mubasher.info/news/3353946/جولدمان-ساكس-العقوبات-الأمريكية-أثرت-على-وضع-الدولار-كعملة-احتياط

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Russia's De-Dollarization Plan Not a Tool in Event of Sanctions - Minister

US Dollar

BUSINESS

13:09 16.10.2018(updated 13:37 16.10.2018)Get short URL

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Earlier, Russia's First Deputy Prime Minister and Minister of Finance Anton Siluanov said that a plan on the de-dollarization of the country's economy had been prepared and submitted to the government.

The Russian finance ministry expects the plan for Russian economy's de-dollarization to be adopted before end of 2018, Russian Deputy Finance Minister Alexei Moiseev said.

The de-dollarization plan for the Russian economy is classified as "for official use only" at the development stage, and the government will have to make a decision on its publication, Deputy Finance Minister Alexei Moiseyev told journalists.

 

In early October, the Russian government's press service announced that the authorities were working on a plan to reduce the economy's dependence on the dollar.

The government's plan does not detail any restrictions or bans on transactions in dollars; it seeks to stimulate payments in national currencies and create appropriate mechanisms that will allow transactions in any currency without unnecessary losses.

According to Russian Finance Minister Anton Siluanov, European companies are considering the idea of abandoning the dollar in transactions with Russia.

Earlier, he said that the US dollar was becoming an unreliable tool for payments in international trade.

https://sputniknews.com/business/201810161068926148-russia-no-dollar/

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China & Japan Dump Treasuries As Dollar's Reserve Status Slumps To 5 Year Lows

Profile picture for user Tyler Durden
Tue, 10/16/2018 - 16:08

Treasury International Capital flows showed Brazil the biggest buyer of Treasurys in August (followed by Ireland and France), but it was China and 'ally' Japan that dumped the most Treasurys in the month...

Brazil is Steve Mnuchin's best friend...

2018-10-16_13-06-04.jpg

As China reduced their holdings of US Treasurys for the 3rd straight month...

2018-10-16_13-03-43.jpg

Japan flipped to a seller again in August back to the lowest holdings since October 2011...

2018-10-16_13-05-14.jpg

 

And while the Saudis were buying in August...

2018-10-16_13-07-31.jpg

 

the broad trend among other majors has been selling...

2018-10-15_8-13-52_0.jpg

 

All of which has driven the USDollar's share of global central bank reserve to its lowest since 2013...

2018-10-16_10-41-28.jpg

And, according to economist Zach Pandl at Goldman Sachs, Washington’s aggressive policy against Moscow could be the biggest driver behind the recent fall of the dollar’s share of global central-bank reserves, who noted that Russia’s Central Bank sold some $85 billion of its $150 billion holding of the US assets from April through June after the US Treasury Department announced new sanctions on Russian businessmen, companies and government officials.

the-US-dollar-crash_0.jpg

At the beginning of April, as RT reports, Washington expanded its anti-Russian sanction list, including seven Russian tycoons, 12 companies and 17 senior government officials over alleged meddling in the 2016 US presidential election, and according to Pandl, the co-head of global FX and emerging-market strategy, the US policy of unilateral tariff hikes and sanctions is putting at risk the greenback that is still dominating the global currency reserves.

“The Central Bank of Russia likely sold a large portion of its dollar-denominated assets, and perhaps all of its US Treasuries held by US custodians, and transferred them to euro-denominated and yuan-denominated bonds in the second quarter,” the economist said.

“This would account for more than half of the decline in the share of dollar reserves during the quarter.”

According to the recent data revealed by the International Monetary Fund, share of the US national currency in the global central-bank reserves declined to 62.3 percent in the second quarter with holdings in the euro, yen and yuan gained as a share of allocated reserves.

“Sanction risk appears to explain a significant portion of the observed decline,” the analyst said.

2018-10-16_11-06-06.jpg“The dollar’s share of reserve assets could decline further if other large reserve holders were to make similar changes as the Central Bank of Russia over time.”

Remember, nothing last forever...

20120103_JPM_reserve_0.png

https://www.zerohedge.com/news/2018-10-16/china-japan-dump-treasuries-dollars-reserve-status-slumps-5-year-lows

Edited by Butifldrm
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Putin Hails Sunset of U.S. Global Domination Due To Mounting 'Mistakes'

Russian President Vladimir Putin gloated Thursday about what he sees as the end of the United States’ world dominance due to growing “mistakes.” 

Putin also claimed America holds “some responsibility” for the disappearance of Washington Post columnist Jamal Khashoggi because the Saudi journalist was living in the U.S., he said his in annual foreign policy speech, according to the Financial Times. He did not elaborate. Khashoggi has not been seen since he entered the Saudi Consulate in Istanbul on Oct. 2. Turkish officials say he was murdered and dismembered by orders of Saudi Crown Prince Mohammed bin Salman.

“In this regard, the U.S. has a certain responsibility. If someone knows what happens and there was a murder, I hope some evidence is provided. And dependent on that, we will make some decisions,” Putin added in his remarks in the Black Sea resort of Sochi. He said there was currently no reason to “harm our relations with Saudi Arabia.”

As for the U.S., he said that “empires often think they can make some little mistakes ... because they’re so powerful. But when the number of these mistakes keeps growing, it reaches a level they cannot sustain.”

He added: “A country can get the sense from impunity that you can do anything. This is the result of the monopoly from a unipolar world ... . Luckily this monopoly is disappearing. It’s almost done.”

Putin also boasted that Russia’s “hypersonic” weapon system will be the best in the world within months. Such a system would allow missile speeds of at least five times the speed of sound, or about one mile per second, CNBC reported. The U.S. is currently incapable of defending itself against such a system, CNBC said.

Putin said Russia’s nuclear weapons would be used only to retaliate against an enemy strike. “We have no concept of a preemptive strike,” Putin said in response to a question, Agence France-Presse reported. “The aggressor will have to understand that retaliation is inevitable, that it will be destroyed and that we, as victims of aggression, as martyrs, will go to heaven.”

Putin shrugged off deteriorating relationships with the West, saying Russia is forging stronger friendships with Asia and the Mideast. Yet he also said President Donald Trump is continuing to work to improve ties with Russia.

“It’s better to talk, to have a conversation, than to be like cats and dogs that keep fighting each other,” Putin said, according to the Financial Times.

https://www.yahoo.com/news/putin-hails-sunset-u-global-020820083.html

 

He's such a nice guy.

B/A

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Foreign Banks Are Embracing Russia's Alternative To SWIFT, Moscow Says

Profile picture for user Tyler Durden
Sun, 10/21/2018 - 08:00

On Friday, one day after Russia and China pledged to reduce their reliance on the dollar by increasing the amount of bilateral trade conducted in rubles and yuan (a goal toward which much progress has already been made over the past three years), Russia's Central Bank provided the latest update on Moscow's alternative to US-dominated international payments network SWIFT.

Russia

Moscow started working on the project back in 2014, when international sanctions over Russia's annexation of Crimea inspired fears that the country's largest banks would soon be cut off from SWIFT which, though it's based in Belgium and claims to be politically neutral, is effectively controlled by the US Treasury.

Russia

Today, the Russian alternative, known as the System for Transfer of Financial Messages, has attracted a modest amount of support within the Russian business community, with 416 Russian companies having joined as of September, including the Russian Federal Treasury and large state corporations likeGazprom Neft and Rosneft.

And now, eight months after a senior Russian official advised that "our banks are ready to turn off SWIFT," it appears the system has reached another milestone in its development: It's ready to take on international partners in the quest to de-dollarize and end the US's leverage over the international financial system. A Russian official advised that non-residents will begin joining the system "this year," according to RT.

"Non-residents will start connecting to us this year. People are already turning to us," said First Deputy Governor of the Central Bank of Russia Olga Skorobogatova. Earlier, the official said that by using the alternative payment system foreign firms would be able to do business with sanctioned Russian companies.

Turkey, China, India and others are among the countries that might be interested in a SWIFT alternative, as Russian President Vladimir Putin pointed out in a speech earlier this month, the US's willingness to blithely sanction countries from Iran to Venezuela and beyond will eventually rebound on the US economy by undermining the dollar's status as the world's reserve currency.

To be sure, the Russians aren't the only ones building a SWIFT alternative to help avoid US sanctions. Russia and China, along with the European Union are launching an interbank payments network known as the Special Purpose Vehicle to help companies pursue "legitimate business with Iran" in defiance of US sanctions.

Given its status as a major energy exporter, Russia has leverage that could help attract partners to its new SWIFT alternative. For one, much of Europe is dependent on Russian natural gas and oil.

Russia

And as Russian trade with other US rivals increases, Moscow's payments network will look increasingly attractive, particularly if buyers of Russian crude have no other alternatives to pay for their goods.

https://www.zerohedge.com/news/2018-10-19/foreign-banks-are-embracing-russias-alternative-swift-moscow-says

 

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47 minutes ago, Butifldrm said:

the Russians aren't the only ones building a SWIFT alternative to help avoid US sanctions. Russia and China, along with the European Union are launching an interbank payments network known as the Special Purpose Vehicle to help companies pursue "legitimate business with Iran" in defiance of US sanctions.

 

That about says it all... And most Americans have no clue that any of this is unraveling. 

 

B/A

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On 10/19/2018 at 6:33 AM, bostonangler said:

Putin Hails Sunset of U.S. Global Domination Due To Mounting 'Mistakes'

Russian President Vladimir Putin gloated Thursday about what he sees as the end of the United States’ world dominance due to growing “mistakes.” 

Putin also claimed America holds “some responsibility” for the disappearance of Washington Post columnist Jamal Khashoggi because the Saudi journalist was living in the U.S., he said his in annual foreign policy speech, according to the Financial Times. He did not elaborate. Khashoggi has not been seen since he entered the Saudi Consulate in Istanbul on Oct. 2. Turkish officials say he was murdered and dismembered by orders of Saudi Crown Prince Mohammed bin Salman.

“In this regard, the U.S. has a certain responsibility. If someone knows what happens and there was a murder, I hope some evidence is provided. And dependent on that, we will make some decisions,” Putin added in his remarks in the Black Sea resort of Sochi. He said there was currently no reason to “harm our relations with Saudi Arabia.”

As for the U.S., he said that “empires often think they can make some little mistakes ... because they’re so powerful. But when the number of these mistakes keeps growing, it reaches a level they cannot sustain.”

He added: “A country can get the sense from impunity that you can do anything. This is the result of the monopoly from a unipolar world ... . Luckily this monopoly is disappearing. It’s almost done.”

Putin also boasted that Russia’s “hypersonic” weapon system will be the best in the world within months. Such a system would allow missile speeds of at least five times the speed of sound, or about one mile per second, CNBC reported. The U.S. is currently incapable of defending itself against such a system, CNBC said.

 Putin said Russia’s nuclear weapons would be used only to retaliate against an enemy strike. “We have no concept of a preemptive strike,” Putin said in response to a question, Agence France-Presse reported. “The aggressor will have to understand that retaliation is inevitable, that it will be destroyed and that we, as victims of aggression, as martyrs, will go to heaven.”

Putin shrugged off deteriorating relationships with the West, saying Russia is forging stronger friendships with Asia and the Mideast. Yet he also said President Donald Trump is continuing to work to improve ties with Russia.

“It’s better to talk, to have a conversation, than to be like cats and dogs that keep fighting each other,” Putin said, according to the Financial Times.

https://www.yahoo.com/news/putin-hails-sunset-u-global-020820083.html

 

He's such a nice guy.

B/A

Putin also boasted that Russia’s “hypersonic” weapon system will be the best in the world within months. Such a system would allow missile speeds of at least five times the speed of sound, or about one mile per second, CNBC reported."  They finally made something that will definatley fail .........over another country . Dangerous 

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20 hours ago, blueskyline said:

Putin also boasted that Russia’s “hypersonic” weapon system will be the best in the world within months. Such a system would allow missile speeds of at least five times the speed of sound, or about one mile per second, CNBC reported."  They finally made something that will definatley fail .........over another country . Dangerous 

 

  I'm not a fan of Bolton, never have been.  He is a war Hawk, but good news. Bolton: Trump, Putin to meet in Paris in November

https://thehill.com/policy/national-security/412753-bolton-discusses-possible-trump-putin-meeting-in-november-report

 

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Good Evening Beauty . That is good news . I hope so agreements can be made . Who knows the future ? Putin may need those to deter China then the West in time to come ? Who knows ?

 

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Demand for Gold Up 42%. Why Are Central Banks Raising Their Reserves?

So which countries are raising their gold reserves and why?

While we can’t know for certain, there are some statistics that prove to be quite interesting.

For example, the Russian central bank has been the largest purchaser of gold for the past six years, which has taken their holdings to 224 tonnes in 2017. They have now also overtaken China to hold the fifth spot in having the largest gold reserves in the world.

Meanwhile, Hungary’s central bank announced that the country has raised its gold reserves tenfold to 31.5 tonnes. The reason given was to ‘improve the security of the nation’s wealth and the reduce risks’.

And on 19 April 2018, Turkey also requested that 220 tonnes of their gold be pulled out of the US Federal Reserve system and brought back home. Other countries making similar requests of the US Federal Reserve.

include:

  1. Germany
  2. Netherlands
  3. Austria
  4. Belgium
  5. Russia
  6. China
  7. Azerbaijan

Why do more countries want their gold back?

When it comes to why more countries want their gold back, this is an interesting question with many possible answers. One theory is that countries around the world are trying to avoid the US dollar because of ongoing trade wars, tariffs, and an uncertain political scene.

Russia and China have also been trying to win support from global governments to create a new gold-backed currency, thereby removing the US dollar as the world’s reserve currency. After all, the reserve currency status may not last forever.

At this point in time, we may not be able to pinpoint the exact outcome of central banks raising their gold reserves. However, we can still take advantage of the volatility in the gold market as the metal is available to trade with a CFD option with Admiral Markets. How can we do this? Let’s take a look…

How to trade CFDs on Gold with Admiral Markets MT4?

First, let’s take a look at the 12-month gold chart:

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More

From the chart above we can see there are times gold ranges and trends. In a range, gold will trade in between two price points, struggling to break out of its range. In a trend, we would see prices accelerate for a sustained period higher or lower.

There are a variety of strategies to trade trend-based market conditions as well as range-based market conditions. Let’s focus on the most recent range-based market conditions as highlighted by the chart below:

{alt}
 
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More
 

In the chart above, we can see that the gold market was contained in a range known as a consolidation, wedge or triangle formation. New price highs kept on getting lower, while new price lows kept on getting higher. This pattern suggests that at some point the market will break out and move in a directional manner up or down.

In this instance, the gold market broke higher, penetrating the upper resistance level of the consolidation pattern. A trader could have bought as the market broke through this resistance line at the $1,202 price level on the 11 October 2018, with a stop loss at the lowest price of the breakout day $1,191.

Trading at the lowest lot value for gold, 0.1 lots, then if the entry price was triggered and then hit the stop loss, the trader would have lost USD 110. In this instance, the stop loss was not hit and if the trader held on to previous resistance at $1,222 (July 2018 lows), the approximate profit would have been USD 200 reached on the same day as an entry, 11 October 2018.

 

 

B/A

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Farewell to the Dollar? India Reportedly Ditches US Currency to Buy Iranian Oil

CC0
BUSINESS
14:54 07.12.2018(updated 14:55 07.12.2018)Get short URL
12320

Although the US imposed sanctions against the Iranian energy and banking sectors, Washington has agreed to issue waivers for several countries, so they could buy Iranian oil. These waivers are only temporary and will cease in 6 months, forcing importers to either switch to new sources or face the threat of US sanctions.

India has signed an agreement with Iran to pay for its crude oil in national currency instead of dollars the Business Standard newspaper reported, citing an anonymous source familiar with the move.

The memorandum of understanding between the countries, which cemented the decision to ditch dollars in the oil trade, was signed by Tehran and Delhi on 5 November 2018, when the US announced new sanctions against Iran. It's notable that on the same day, Washington issued temporary waivers to 8 countries, including India, allowing them to buy Iranian oil without fear of being sanctioned.

According to the Business Standard's source, money for the Iranian crude will be transferred to a  National Iranian Oil Co (NIOC) bank account at the Indian UCO Bank. What is more, half of this money is set to be spent on exports of Indian goods to Iran.

READ MORE: India and UAE to Deal in Local Currencies, Avoiding Dollar Transactions

India is the second biggest importer of Iranian crude, with China occupying first place. The country has reportedly limited its oil imports from the Islamic Republic from 452,000 down to 300,000 barrels per day to meet the conditions of the 180-day US waiver.

The US imposed a new round of sanctions against Iran on November 5, following Washington's withdrawal from the Joint Comprehensive Plan of Action (JCPOA). Sanctions affected the country's banking, energy, and shipping sectors. The US allowed 8 countries to continue buying Iranian oil for 6 months — Greece, India, Italy, China, Taiwan, Turkey, South Korea, and Japan.

https://sputniknews.com/business/201812071070479951-india-dollar-iranian-oil/

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India to import Iranian oil using rupee payment mechanism: source

 

 

Neha Dasgupta, Mayank Bhardwaj

2 MIN READ

FILE PHOTO: Malta-flagged Iranian crude oil supertanker "Delvar" is seen anchored off Singapore March 1, 2012. . REUTERS/Tim Chong/File Photo

NEW DELHI (Reuters) - India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told Reuters on Thursday, adding that 50 percent of those payments will be used for exporting items to Tehran.

India’s state-owned UCO Bank is expected to announce the payment mechanism in the next 10 days, the source said.

SPONSORED

“An agreement had been signed by the Indian and Iranian government on Nov. 2 2018 for oil payment in rupees and 50 percent of those funds had been earmarked for exports,” according to an Indian government document reviewed by Reuters.

Oil payments are being made in rupees only as against earlier arrangements where there was a ratio of 45 percent rupees and 55 percent euros, the document said.

Russian and Chinese shipping companies were pitching to facilitate India-Iran trade, the source said.

Under U.S. sanctions, India will be allowed to export farm commodities, food, medicines, and medical devices to Iran.

However, items such as petroleum and petrochemical products, automobiles, steel, precious metals and graphite are not allowed to be exported to Tehran.

Reporting by Neha Dasgupta and Mayank Bhardwaj; Editing by Sunil Nair and Martin Howell

Our Standards:The Thomson Reuters Trust Principles.

https://www.reuters.com/article/us-india-iran-oil/india-to-import-iranian-oil-using-rupee-payment-mechanism-source-idUSKBN1O50XT

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https://www.mawazin.net/Details.aspx?jimare=27502................

America and China vow to enhance trade cooperation

12:23 - 01/01/2019

 
image
 

Mawazine News 
The Chinese and US presidents exchanged letters pledging to strengthen cooperation despite a severe trade dispute between them, on the 40th anniversary of the establishment of diplomatic ties between the two countries, according to official Chinese media. 
Tension between Beijing and Washington escalated in 2018 on the back of trade disputes, but US President Donald Trump froze new customs duties and announced Saturday "great progress" following a call to his counterpart Xi Jinping. 
In the exchange of letters Tuesday, Chinese President Hu Jintao stressed the importance of working with the United States "to advance Sino-US relations and enhance coordination, cooperation and stability," according to the official Xinhua news agency. 
Trump praised the last four decades of China-US diplomacy and welcomed his "strong friendship" with the Chinese president, Xinhua said.
Washington and China exchanged customs duties on goods worth more than $ 300 billion last year, triggering a trade dispute that began to affect profits and led to a fall in capital markets. 
Trump launched the trade war following complaints about China's "unfair" practice, which were also expressed by the EU, Japan and others. 
But since the two presidents agreed to a truce on the sidelines of the G20 summit in Buenos Aires, little signs of progress have emerged, amid the absence of new threats from Trump.


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s://www.cnn.com/2018/12/30/asia/kim-jong-un-letter-moon-intl/index.html..................Sense everybodies exchanging letters .......................

Jong Un sends rare letter to South Korean leader after extraordinary year

By Jake Kwok and Sheena McKenzie, CNN

 

Updated 9:21 AM ET, Sun December 30, 2018

 
 
 
 
The letter sent from Kim Jong Un to Moon Jae-in
 
The letter sent from Kim Jong Un to Moon Jae-in

(CNN)North Korean leader Kim Jong Un has sent a rare personal letter to his South Korean counterpart, President Moon Jae-in, expressing his willingness to meet again in 2019 and discuss denuclearization on the divided peninsula.

Wrapping up an extraordinary year in which the two leaders met three times, Kim shared his wish to go together towards peace and prosperity, according to Moon's office.
Kim added that he was sorry his plan to visit Seoul later this year -- in what was to be their fourth meeting of 2018 -- did not take place as agreed at their third summit in Pyongyang in September.
But he expressed a strong will to visit the South Korean capital in the future.
North Korean leader Kim Jong Un and South Korean President Moon Jae-in  embrace at a summit in South Korea in April.
 
North Korean leader Kim Jong Un and South Korean President Moon Jae-in embrace at a summit in South Korea in April.
In response, Moon said on his social media account that he was "very glad" to see Kim's "willingness to meet often in the new year to resolve the practical issues of peace and prosperity and the denuclearization issue."
"If we meet together with sincerity, there is nothing we cannot achieve," added Moon. "It took a long time to get here and much has changed in one year."
The South Korean President said he hoped to see Kim in the new year, and that his welcome to the country "remains unchanged."

Historic 2018 for Koreas

It marks the end of a historic year in North-South relations, with the leaders hugging each other on the tarmac of Pyongyang International Airport in their most recent meeting in September -- believed to be the first time Kim had greeted visitors at the airport since taking power in 2011.
It was also the first time since 2007 that a South Korean president had traveled North.
Though fighting ended 65 years ago, the Korean War has never been formally ended with a peace treaty.
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Photos: In pictures: Korean leaders meet in Pyongyang
Kim and his wife, Ri Sol Ju, second from left, escort the South Korean leader and his wife, Kim Jung-sook, second from right, at the Paekwawon Guesthouse in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Koreans wave bouquets and flags as they watch the two leaders' parade in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
Kim meets Moon at the airport in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
This week's meeting marks the first time in more than a decade that a South Korean president has visited the North.
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Photos: In pictures: Korean leaders meet in Pyongyang
South Koreans watch a televised broadcast of the summit from Seoul on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Koreans welcome Moon at the airport in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
Kim and his wife greet Moon and the South Korean first lady upon their arrival in Pyongyang on September 18. On the the three-day visit, Moon is bringing an entourage that includes K-pop stars and business leaders such as Jay Y. Lee, the head of Samsung.
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Photos: In pictures: Korean leaders meet in Pyongyang
People watch live footage from the summit at a railway station in Seoul on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Korean honor guards march during a welcoming ceremony for Moon in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
Seoul Military Air Base staff members wave as the South Korean President departs for Pyongyang on September 18.
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North Korean leader Kim Jong Un and his wife Ri Sol Ju pose with South Korean President Moon Jae-in and his wife Kim Jung-sook on the top of Mount Paektu in North Korea on Thursday, September 20.
 
Photos: In pictures: Korean leaders meet in Pyongyang
North Korean leader Kim Jong Un and his wife Ri Sol Ju pose with South Korean President Moon Jae-in and his wife Kim Jung-sook on the top of Mount Paektu in North Korea on Thursday, September 20.
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Photos: In pictures: Korean leaders meet in Pyongyang
Moon Jae-in collects water from Heaven Lake at the bottom of Mount Paektu.
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Photos: In pictures: Korean leaders meet in Pyongyang
Moon Jae-in and Kim Jong Un after a signing ceremony in Pyongyang, North Korea, Wednesday, September 19, 2018.
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Photos: In pictures: Korean leaders meet in Pyongyang
Moon and Kim teased a potential historic fourth meeting between the two leaders, this time in the South Korean capital. The signed agreement stated that Kim would travel to Seoul "as soon as possible," something no North Korean leader has ever done.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Korea said it would close a key missile test facility in the presence of "international experts" and potentially destroy its primary nuclear complex if the United States agrees to corresponding measures, South Korean President Moon Jae-in announced in a joint press conference with North Korean leader Kim Jong Un Wednesday.
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Photos: In pictures: Korean leaders meet in Pyongyang
"The era of no war has started," said Moon, the first South Korean president to visit Pyongyang since 2007. "Today the North and South decided to remove all threats that can cause war from the entire Korean peninsula."
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Photos: In pictures: Korean leaders meet in Pyongyang
South Korean Defense Minister Song Young-moo, second from left, and his North Korean counterpart No Kwang Chol sign a military agreement, vowing to "cease all hostile acts against each other."
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Photos: In pictures: Korean leaders meet in Pyongyang
South Korean President Moon Jae-in and North Korean leader Kim Jong Un attend a luncheon.
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Photos: In pictures: Korean leaders meet in Pyongyang
South Korean President Moon Jae-in and North Korean leader Kim Jong Un ride in a parade in Pyongyang, North Korea, on Tuesday, September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
The two leaders greet each other before their summit at the headquarters of the Central Committee of the Workers' Party in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
Kim and his wife, Ri Sol Ju, second from left, escort the South Korean leader and his wife, Kim Jung-sook, second from right, at the Paekwawon Guesthouse in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Koreans wave bouquets and flags as they watch the two leaders' parade in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
Kim meets Moon at the airport in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
This week's meeting marks the first time in more than a decade that a South Korean president has visited the North.
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Photos: In pictures: Korean leaders meet in Pyongyang
South Koreans watch a televised broadcast of the summit from Seoul on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Koreans welcome Moon at the airport in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
Kim and his wife greet Moon and the South Korean first lady upon their arrival in Pyongyang on September 18. On the the three-day visit, Moon is bringing an entourage that includes K-pop stars and business leaders such as Jay Y. Lee, the head of Samsung.
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Photos: In pictures: Korean leaders meet in Pyongyang
People watch live footage from the summit at a railway station in Seoul on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Korean honor guards march during a welcoming ceremony for Moon in Pyongyang on September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
Seoul Military Air Base staff members wave as the South Korean President departs for Pyongyang on September 18.
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North Korean leader Kim Jong Un and his wife Ri Sol Ju pose with South Korean President Moon Jae-in and his wife Kim Jung-sook on the top of Mount Paektu in North Korea on Thursday, September 20.
 
Photos: In pictures: Korean leaders meet in Pyongyang
North Korean leader Kim Jong Un and his wife Ri Sol Ju pose with South Korean President Moon Jae-in and his wife Kim Jung-sook on the top of Mount Paektu in North Korea on Thursday, September 20.
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Photos: In pictures: Korean leaders meet in Pyongyang
Moon Jae-in collects water from Heaven Lake at the bottom of Mount Paektu.
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Photos: In pictures: Korean leaders meet in Pyongyang
Moon Jae-in and Kim Jong Un after a signing ceremony in Pyongyang, North Korea, Wednesday, September 19, 2018.
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Photos: In pictures: Korean leaders meet in Pyongyang
Moon and Kim teased a potential historic fourth meeting between the two leaders, this time in the South Korean capital. The signed agreement stated that Kim would travel to Seoul "as soon as possible," something no North Korean leader has ever done.
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Photos: In pictures: Korean leaders meet in Pyongyang
North Korea said it would close a key missile test facility in the presence of "international experts" and potentially destroy its primary nuclear complex if the United States agrees to corresponding measures, South Korean President Moon Jae-in announced in a joint press conference with North Korean leader Kim Jong Un Wednesday.
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Photos: In pictures: Korean leaders meet in Pyongyang
"The era of no war has started," said Moon, the first South Korean president to visit Pyongyang since 2007. "Today the North and South decided to remove all threats that can cause war from the entire Korean peninsula."
Hide Caption
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Photos: In pictures: Korean leaders meet in Pyongyang
South Korean Defense Minister Song Young-moo, second from left, and his North Korean counterpart No Kwang Chol sign a military agreement, vowing to "cease all hostile acts against each other."
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Photos: In pictures: Korean leaders meet in Pyongyang
South Korean President Moon Jae-in and North Korean leader Kim Jong Un attend a luncheon.
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Photos: In pictures: Korean leaders meet in Pyongyang
South Korean President Moon Jae-in and North Korean leader Kim Jong Un ride in a parade in Pyongyang, North Korea, on Tuesday, September 18.
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Photos: In pictures: Korean leaders meet in Pyongyang
The two leaders greet each other before their summit at the headquarters of the Central Committee of the Workers' Party in Pyongyang on September 18.
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While a formal peace regime officially ending the Korean War would need buy in from the US and China -- the other participants in the conflict -- experts agree that there is nothing to stop the two Koreas declaring an end to the war themselves, or signing a bilateral peace treaty.
The meetings followed a rollercoaster few years of relations between US President Donald Trump and Kim -- nosediving with Trump's famous "Rocket man" speech at the United Nations General Assembly in 2017, and peaking with their highly anticipated summit in Singapore earlier this year.
 
Trump and Kim Jong Un's ups and downs
 
 
 

 

 

 
 
 

 

Trump and Kim Jong Un's ups and downs 03:02
It was the first-ever summit between the sitting leaders of the two countries. Trump hailed the new friendship and a document signed by both parties reaffirming Kim's "unwavering commitment to complete denuclearization."
As 2018 draws to a close, Kim has again vowed to resolve the denuclearization issue in his letter to Moon -- but visible steps showing North Korea has indeed stopped developing its nuclear arsenal remain to be seen.

CNN's Jake Kwok reported, Sheena McKenzie wrote in London. Joshua Berlinger contributed to this report.

 

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https://www.cnbc.com/2018/12/31/north-koreas-kim-reportedly-sends-message-to-trump-on-nuclear-talks.html...................AND another Letter .........................................

Amid stalled nuclear talks, North Korea's Kim reportedly sends message to Trump

  • North Korean leader Kim Jong Un's "letter-like" message to U.S. President Donald Trump was delivered on Friday through an unspecified channel, South Korea's Chosun Ilbo newspaper, citing an unnamed diplomatic source.
  • Both sides have struggled to make progress on denuclearization since the two leaders met earlier this year in Singapore.
Published 9:35 PM ET Sun, 30 Dec 2018Reuters
     
     
     
     
     
President Donald Trump and North Korea's leader Kim Jong Un leave after signing documents that acknowledge the progress of the talks and pledge to keep momentum going, after their summit at the Capella Hotel on Sentosa island in Singapore June 12, 2018.
Jonathan Ernst | Reuters
President Donald Trump and North Korea's leader Kim Jong Un leave after signing documents that acknowledge the progress of the talks and pledge to keep momentum going, after their summit at the Capella Hotel on Sentosa island in Singapore June 12, 2018.

North Korean leader Kim Jong Un has sent a "conciliatory message" to U.S. President Donald Trump amid stalled nuclear negotiations, South Korea's Chosun Ilbo newspaper reported on Monday.

Kim's "letter-like" message to Trump was delivered on Friday through an unspecified channel, the newspaper reported, citing an unnamed diplomatic source. The report did not include details about the substance of the message but said they related to U.S-North Korea talks.

On Sunday, the office of South Korea's President Moon Jae-in said Kim had sent a letter to his counterpart in Seoul saying he wants to hold more inter-Korean summits next year to achieve denuclearization of the peninsula.

 

Neither the U.S. State Department nor the U.S. Embassy in Seoul had an immediate comment about the report of Kim's message to Trump when contacted by Reuters.

At a summit with Trump in Singapore in June, Kim vowed to work towards denuclearization.

However, both sides have struggled to make progress on this matter. They are also yet to reschedule a meeting between U.S. Secretary of State Mike Pompeo and senior North Korean official Kim Yong Chol after an abrupt cancellation in November.

 
 

Pyongyang's state media has credited Trump for his "willingness" to continue dialogue but has also slammed the State Department for tightening sanctions.

The stalled negotiations had an impact on inter-Korean ties, including Kim's unrealized plan to visit Seoul this year as agreed their summit in Pyongyang in September.

The Chosun Ilbo report also said Kim wrote in the letter to Moon that he would come to the South "in the near future" after giving a New Year address on Tuesday.

Kim's New Year address provides a rare public appearance for the young leader and is closely watched by neighboring countries as it is seen setting the tone for his domestic and foreign policies.

According to Moon's spokesman, Kim said in the letter to the South Korean president that he was sorry his previously planned trip to Seoul this year did not take place, expressing his "strong resolve" to make it happen while monitoring the situation.

 

 
 
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https://www.nytimes.com/2018/12/31/world/asia/kim-jong-un-trump.html.................And one offer for a meeting .........

Kim Jong-un, Ready to Meet Trump ‘at Any Time,’ Demands U.S. End Sanctions

 
Kim Jong-un, the North Korean leader, in Pyongyang on Tuesday. In his New Year’s Day speech, he said he was ready for a second meeting with President Trump.CreditKorean Central News Agency, via Reuters
 
 
 
Imagemerlin_148645758_5d78e35b-1547-4abc-b4c9
Kim Jong-un, the North Korean leader, in Pyongyang on Tuesday. In his New Year’s Day speech, he said he was ready for a second meeting with President Trump.CreditCreditKorean Central News Agency, via Reuters
  • Dec. 31, 2018

TOKYO — Kim Jong-un, North Korea’s leader, said Tuesday that he was willing to have a second summit meeting with President Trump, but he paired the offer with a threat that if international sanctions against his country were not lifted, the North would “have no choice” but to return to nuclear confrontation.

“I am willing to meet the United States president at any time for the betterment of our international community,” Mr. Kim said in his New Year’s Day speech, broadcast on North Korea’s state-run television. “However, if the United States does not keep its promise in our international community and misinterprets our patience and intention and continues with the sanctions, then we have no choice for the sake of our national interest and peace of the Korean Peninsula but to come up with new initiatives and new measures.”

Wearing a suit and tie and sitting in an overstuffed leather armchair in a book-lined room, Mr. Kim offered a largely motivational speech about the need to strengthen the North Korean economy. But he took the opportunity to reiterate a demand that South Korea cease all military drills with “other foreign sources.”

“Those should be completely stopped,” Mr. Kim said. “That is our stance.”

There were sparse direct references in the speech to denuclearization. But Mr. Kim said the country would not be willing to take further steps toward removing its nuclear weapons unless the United States reciprocated.

 

“The statements and agreements after the summit with the United States were that we are going toward complete denuclearization of the Korean Peninsula, and that is my resolute commitment,” he said. “We will not make nuclear weapons and we will not proliferate nuclear weapons, and I have said this, and I will say this again now.

“If the United States can show corresponding measures, the relationship between the two countries will, through many processes, accelerate for the better. But if the counterpart continues with its past habits, it won’t be good, but I hope they stop this.”

Mr. Kim also indicated that the North wanted a peace declaration formally ending the Korean War.

In declaring that he would not make nuclear weapons, Mr. Kim was going further than anything he said at his summit meeting with Mr. Trump in Singapore in June. North Korea made no explicit promise to “freeze” its program, and American intelligence officials have said that they believe North Korea has continued to produce the fuel for nuclear weapons — and likely the weapons themselves.

The distinction is a relatively minor one, because once the fuel is produced, fashioning it into weapons is no longer much of a challenge, as the North has proved through a series of nuclear tests that ended 13 months ago.

Mr. Kim’s statement about proliferation addressed one of the major issues for Secretary of State Mike Pompeo and his North Korea envoy, Stephen E. Biegun. They have expressed concerns about the North’s long record of selling nuclear technology abroad — most famously to Syria, which built a full nuclear reactor based on a North Korean design and parts. It was destroyed by Israel in 2007.

 

Mr. Kim’s demand that the United States begin to lift sanctions before North Korea takes any steps toward dismantling its nuclear infrastructure is essentially a return to the state of affairs when Mr. Trump took office early in 2017.

Mr. Trump entered the White House vowing he would not repeat the mistakes of his predecessors, who lifted some sanctions. Mr. Trump and his aides said the North would have to dismantle everything first and trust that sanctions would be lifted later.

Since the Singapore meeting, Mr. Trump has occasionally seemed to waver on the question of lifting some sanctions before the North dismantles its facilities and gives up its weapons and missiles. Now, with Mr. Kim’s demand, he must decide whether to back down — and take steps similar to those of his predecessors.

Analysts noted that Mr. Kim did not specify what exactly he wanted the Trump administration to do but was suggesting that removing some sanctions and moving toward a formal peace declaration to end the Korean War might prod the North to take certain steps toward denuclearization.

“Previous public and private comments from Kim and other North Korean officials suggest they would be willing to decommission the Yongbyon nuclear complex under expert supervision,” said Daryl G. Kimball, executive director of the Arms Control Association, referring to a plutonium reactor, spent fuel reprocessing facility and uranium enrichment plant.

Mr. Kim’s remarks followed a recent escalation of rhetoric from the North suggesting that he was losing patience with the diplomatic stalemate and the sanctions that have remained in place since his meeting with Mr. Trump in Singapore.

This month, the North Korean Foreign Ministry warned that the United States’ continued hard-line sanctions policy might “block” any chance of denuclearizing the country. A few days later, the North said through its official news agency that it would not dismantle its nuclear weapons program until the United States agreed to shrink its military presence on and near the Korean Peninsula.

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North Korea is “very good at playing hard to get. They are always saying, ‘We could go back to our old ways,’” said Lee Sung-yoon, a professor of Korean studies at the Fletcher School at Tufts University.

Mr. Lee, who said Mr. Kim had shrewdly tempered his rhetoric, said he did not believe the North Korean leader intended to abandon his nuclear weapons program.

“He came across as more peace-prone, reform-minded and denuclearization-prone, which I think is a ruse,” Mr. Lee said. “A nation doesn’t spend 50 years in building the bomb and just give it up for the empty privilege of shaking hands with the U.S. president. But it’s in his interest to play this game for the time being.”

Mr. Trump has indicated that he wants to meet Mr. Kim for a second summit meeting early in the year.

In his New Year’s speech, Mr. Kim praised the progress toward further cooperation that the two Koreas had made over the previous year. “North and South Koreans have to continue resolving our tensions in the skies, waters and land in and surrounding the peninsula, through carrying out practical measures based on already agreed upon inter-Korean agreements,” he said.

He also suggested that South Koreans who once worked at the Kaesong industrial complex, which was run jointly by North and South Korea and shut down in 2016, should be allowed to return. The North, he suggested, would accommodate them unconditionally.

“We should all be proud that we are moving together, North and South, as Koreans,” he said. “We should expand our inter-Korean cooperation so that we can actually see changes.”

Over the weekend, Mr. Kim sent a rare personal letter to the South Korean leader, Moon Jae-in, saying he hoped to visit Seoul in the new year. Analysts expect he may also try to meet China’s president, Xi Jinping, and Russia’s president, Vladimir V. Putin.

 

Last year, Mr. Kim’s New Year’s Day speech ushered in hopes for a breakthrough in the geopolitical standoff that had kept the region on edge for months, as he offered to send a delegation to the Olympics in Pyeongchang, South Korea, in February. Those hopes were realized at the opening ceremony when athletes from the two Koreas marched into the stadium together in a remarkable show of unity.

One of the distinguishing factors of this year’s speech was its more casual delivery. By giving the speech live and in what appeared to be his library, Mr. Kim projected a more relaxed demeanor that was largely intended for his domestic audience.

Mr. Kim’s “presentation to his own people was a leader who’s authoritative and decisive, but also very comfortable and familiar,” said Jean H. Lee, a former Associated Press bureau chief in Pyongyang who is now a global fellow at the Woodrow Wilson Center in Washington.

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Good Morning Buti , DV's . I posted the articles including North Korea because . Maybe the tide of change is starting to turn in the Asian countries for 2019 ? Who knows ? Lets see ...

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