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2024
October 15th, 2014 at 3:13 pm
There's always a buyer somewhere.
http://seekingalpha.com/news/2032775-china-cashing-in-on-russias-shrinking-options-with-sweetheart-deals
China cashing in on Russia's shrinking options with sweetheart deals.During a three-day visit to Moscow that ended yesterday, China and Russia signed 38 new deals, including a big expansion in Russian gas sales to China; Russian Pres. Putin sealed a $400B gas contract with China in May, but the fresh deal reportedly would double that (OTCPK:OGZPY).New projects include a reported $10B Chinese commitment to upgrade Russia's railroads, a "strategic partnership" between Russia's Rosneft (OTC:RNFTF) and China's CNPC (NYSE:PTR), joint development of a long-haul passenger jet, and a deal to open a yuan-ruble swap line worth $24B in an apparent bid to reduce dependence on the U.S. dollar.It's a golden opportunity for China to leverage Russia's political problems with the West and nail down long-term oil and gas contracts at bargain prices, experts say.