Tag Archives: Bank of Japan

Bank Of Japan Implementing Ruble-Yen Currency Swaps

The U.S. plan to impose sanctions on every country that disagrees with the U.S. Government’s attempt to impose political and economic hegemony on allies and enemies alike has been back-firing.   If anything, it’s driving countries away from using the dollar in their trading activities.

The latest example of this is the Bank of Japan’s disclosure that it’s going to start engaging in Ruble-Yen currency swaps with Russia in order to avoid using the dollar to settle bilateral trade with Russia:

Japan Bank for International Cooperation (JBIC) is turning to currency swaps as using the US dollar in transactions is difficult because of the Western anti-Russia sanctions, the bank’s senior managing director said answering a question from Sputnik.  LINK

It won’t be long before the U.S. dollar shows up on the “endangered species” list…