The Collapse of the Petrodollar: Exposing the End of U.S. Dollar Dominance and the Rise of BRICS Power | The Dawn of a New Economic Era. The end of the petrodollar, a system that has anchored global oil transactions to the U.S. dollar since the 1970s, signals a monumental shift in the global economic landscape. This change, rippling through international finance and geopolitics, could redefine the very foundations of global trade and economic power. As the petrodollar crumbles, the world stands on the brink of a new economic era, one marked by volatility, transformation, and unprecedented shifts in power dynamics. ● To grasp the magnitude of this shift, it’s crucial to understand the origins and significance of the petrodollar. The petrodollar system was born out of the 1973 oil crisis when the U.S. struck a pivotal deal with Saudi Arabia. In exchange for military and economic support, Saudi Arabia agreed to price its oil exclusively in U.S. dollars. This arrangement ensured a steady global demand for the dollar, cementing its status as the world’s primary reserve currency.

■ Developments to Dethrone Petrodollar Already Underway (Sputnik News)

The new measures target companies in countries such as China in a bid to “discourage” trade with Moscow | The US Departments of State and Treasury on Wednesday sanctioned 300 additional individuals and entities in Russia and elsewhere, which it accuses of having links to Moscow’s “war economy.” ● According to the Treasury Department, the latest measures target individuals and companies suspected of enabling Moscow to evade the Western embargo. [...] Wednesday’s measures target more than $100 million in trade between Russia and its foreign partners. Companies and individuals in China, Kyrgyzstan, and Türkiye made the sanctions list, with the US going after targets in east and central Asia, Africa, the Middle East, and the Caribbean, the Treasury Department claims. [...] The two departments have issued a new interpretation of existing executive orders that prohibit US citizens from providing anyone in Russia with “IT consultancy and design services,” as well as “IT support services and cloud-based services for enterprise management software and design and manufacturing software.”

■ West has declared ‘war without rules’ on Russia – Medvedev (RT.com)
■ Вот и новые американские санкции. Скоро будут и новые европейские. Надо ли на них реагировать? (MEDIA)
■ Moscow exchange suspends trading in dollars and euro (RT.com)
■ Restrictions on Moscow Exchange and banks, fate of the ruble: Key takeaways from new US sanctions (RT.com)
■ EU agrees to give Ukraine $1.6 billion in proceeds from Russia’s "frozen assets" (RT.com)
■ MAJOR: Russia Officially Becomes World's 4th Largest Economy, Passing Japan (Simplicius)

Dmitry Medvedev (Deputy Chairman of the Russian Security Council) (Дмитрий Медведев) |The one who has inflicted the injury must suffer the same injury. | Here come the new American sanctions. Soon there will be new European ones. Should we respond to them? It seems not, their number is already measured in the tens of thousands. We have learned to live and develop with them. ■ But on the other hand, we need to. Not only the authorities, the state, but all our people in general. Everyone who loves our Motherland—Russia. After all, they—the United States and its shitty allies—have declared war on us without rules! ■ How to react? I have already talked about this once, but it bears repeating. Every day we should try to do maximum harm to those countries that have imposed these restrictions on our country and all our citizens. Harm in everything that can be harmed. Harm their economies, their institutions, and their rulers. Harm to the well-being of their citizens. Their confidence in the future. To do this, we must continue to look for critical vulnerabilities in their economies and hit them in all areas. We'll be causing damage in all places, paralyzing their companies and government agencies. Find problems in their critical technologies and hit them mercilessly. Destroy their energy, industry, transportation, banking, and social services. Fear the imminent collapse of all necessary infrastructure.

 ● Are they afraid of handing over our weapons to the enemies of the Western world? We should give them all possible weapons except nuclear weapons (for now)!
 ● Are they afraid of anarchy and the explosion of crime in the big cities? We need to help disorganize their municipal government!
 ● Do they fear war in space? Then they'll get that too. Let them stop everything, let everything go bad, let everything go to hell!
 ● Are they afraid of social explosions? Let's give them a social explosion! Let's throw all their worst night terrors into their media sphere, and use all their creepy phantom pains. No more sparing their psyche! Let them shiver in their cozy homes, let them shake under their blankets.

They're yelling about our use of fake news? Let's turn their lives into a continuous crazy nightmare in which they can't distinguish wild fiction from the realities of the day, infernal evil from the routine of life. And no rules about the enemy! Let them get everything in full for the harm to Russia and as painful as possible! Everyone can do their part! Remember: Quid pro quo! Tit-for-tat! "Fracture for fracture, eye for eye, tooth for tooth. The one who has inflicted the injury must suffer the same injury." (Leviticus 24:20). (DeepL + Grammarly) [Editor: The above does not reflect the view of this blog.]

The investigation also determined that Israeli leaders are responsible of 'weaponizing' starvation against Palestinians in Gaza and 'instigating' a pattern of settler attacks in the occupied West Bank | The UN Independent International Commission of Inquiry (COI) on 12 June concluded that Israeli authorities are guilty of “war crimes and crimes against humanity” committed during the eight-month-long campaign of genocide in Gaza. ● During its investigation, the COI found that Israeli authorities are responsible for “the war crimes of starvation as a method of warfare, murder or willful killing, intentionally directing attacks against civilians and civilian objects, forcible transfer, sexual violence, torture and inhuman or cruel treatment, arbitrary detention, and outrages upon personal dignity.”

■ Israeli Aggression Continues on 250th Day: Gaza Strip Suffers More Martyrs and Wounded (Al Manar TV)
■ Israel launches air, land, sea strikes against so-called safe zone in Gaza Strip (PressTV)
■ World witnessing ‘unique level’ of death, destruction in war-torn Gaza Strip: UN chief (PressTV)

● Gaza officials say 15,694 children killed and 17,000 are without parents after 250 days of Israel’s war on Gaza.
● WHO chief warns of “catastrophic hunger” in Gaza, with 8,000 children under five years old suffering acute malnutrition in the war-torn territory.
● In the north of the Gaza Strip, food shortages have reached a crisis point as most food commodities have run out, official tells Al Jazeera.
● Hamas said it has shown “full positivity” in efforts to reach a ceasefire agreement with Israel, while US Secretary of State Blinken says some changes to the deal proposed by Hamas are not workable.
● At least 37,202 people killed and 84,932 wounded in Israel’s war on Gaza since October 7. The revised death toll in Israel from Hamas’s attacks stands at 1,139, with dozens of people still held captive in Gaza.

One in 69 people worldwide remains forcibly displaced as a result of conflict, violence, persecution and human rights violations. | At least 117.3 million people, or one in 69 individuals worldwide, remain forcibly displaced, according to a report released by the United Nations High Commissioner for Refugees (UNHCR) today. ● Forced displacement as a result of conflict and violence, persecution and human rights violations, has continued to rise in the first four months of 2024 and is likely to have surpassed 120 million by the end of April 2024.