China, Russia Sign CNY150 Billion Local-Currency Swap As Plunging Oil Prices Sting Putin…(Way To Go, Obola! With Russian Subs On Both Coast’s!!)

Monday, October 13, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
10/13/2014

While Russia’s economy is hurting, desperate to overthrow the tentacles of the Petrodollar, and is urgently pivoting toward Beijing, the cherry on top came moments ago when, as if to assure all involved parties that there will be enough capital support on both sides, the PBOC released a surprising announcement that the central banks of China and Russia signed a 3-year, 150 billion yuan bilateral local-currency swap deal today, according to a statement posted on PBOC website. Deal can be expanded if both parties agree, statement says. Deal aims to make bilateral trade and direct investment more convenient and promote economic development in 2 nations.

The Rest…HERE

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