- Jun 14, 2012
Iranian oil is able to weaken the ruble only. Oil prices are set in dollars only. Therefore, if there is a large spike in the trading markets of Iranian oil - it will drop its price.It is to be seen how Iran manages to make profits from oil. I expect Iran and Russia to join forces and sell oil in BRICS SDR, and not limit it to the Dollar. Russia's aim is to weaken the Dollar, and reduce its role as the global currency of trade. It is in Russia's long term interest to weaken the US, and the only way to do this is to weaken the Dollar. The US cannot be defeated militarily.