The EU sanctioned Russia and boycotted its oil, yet is still buying it indirectly from India, at a higher price. This is fueling both de-dollarization and inflation in the Eurozone, where workers' real wages dropped 6.5% from 2020 to 2022.
The post Europe pays more for banned Russian oil, resold by Indi...
Economists Radhika Desai and Michael Hudson discuss de-dollarization, the global drive to drop the US dollar, and the transition away from financialized neoliberalism toward a new economic system.
The post De-dollarization is about more than currencies: As dollar system declines, what comes next? appeare...
As Ukraine sells off public assets in a privatization spree, US fossil fuel corporations like ExxonMobil, Chevron, and Halliburton are in talks to run its oil and gas industry, and the IMF is imposing structural adjustment.
The post US corporations cash in on Ukraine’s oil and gas appeared first on Geopolitica...
Facebook censored a report by Pulitzer Prize-winning journalist Seymour Hersh on the sabotage of the Nord Stream pipelines between Russia and Germany, forcing users to instead read a website funded and partially owned by NATO member Norway.
The post Facebook censors journalist Seymour Hersh’s repor...
European Central Bank President Christine Lagarde acknowledged "the tectonic plates of geopolitics are shifting faster" and "we may see the world becoming more multipolar", with the decline of US dollar hegemony, war in Ukraine, and rise of China.
The post ‘World becoming more multipolar’, Western hegemon...
US Treasury Secretary Janet Yellen admitted to CNN that Washington's unilateral sanctions on countries around the world "could undermine the hegemony of the dollar".
The post Sanctions ‘undermine hegemony of dollar’, US Treasury admits appeared first on Geopolitical Economy Report.