Russia-China gas deal to undermine US dollar global hegemony – expert

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Russia-China gas deal to undermine US dollar global hegemony – expert

© Photo: RIA Novosti/Alexei Druzhinin
Moscow and Beijing have clinched a historic deal on natural gas supplies to China. The long-term agreement worth at least 400 billion dollars was signed between Russia’s Gazprom and China National Petroleum Corporation. Under the deal, Gazprom will begin providing China with 38 billion cubic meters of gas per year as of 2018. Kiyul Chung, from the School of Journalism and Communication at Tsinghua University shared his opinion on the significanse of the deal, its advantages for both sides and the potential Western reaction during his interview with VR.

What do you think of the energy deal signed in China? How plausible and significant is this arrangement?
I believe that the contract for the next 30 years for gas supply, it is not only significant for China and Russia, but for the whole Eurasian continent and, therefore, the whole world, because at the moment Russia is dealing with the US-led NATO aggression with regards to the Ukrainian issue. And so, Russia is facing the US and the EU economic sanctions.
For the sake of the future of Russia and the whole Eurasian continent the China-Russia deal will not only help Russia to overcome the US-led economic sanctions and other military threats, but also, I presume, this deal will, if it succeed and continues, it will help the future of the world order that will be eventually changed to the better direction for everybody’s sake.
How advantageous is this package for both sides?
I believe it is not only about the economic benefits, but also more so political, geopolitical and strategic benefit for both major powers at the moment – China and Russia. Russia and China, together with the BRICS countries, together with the Shanghai Cooperation Organization – they are new emerging major economic powers. There are trying to diversify the US dollar global hegemony, this movement will not only change the future economic order, but also the global geopolitical order.
It is a comprehensive and future-oriented, and very-very positive historic deal between the two nations.
How do you expect Western countries to react to it?
At the moment, particularly Germany together with Russia, they are trying to calm down the Ukrainian very dangerous and volatile situation through diplomatic measures. I believe this deal will not only help Russia and China, but also eventually Europe. Europe shouldn’t be victimized by the US-led anti-Russia strategy. One of the first and the worst-hit victims would surely be the European countries.
It seems to our media and the people here that not only Germany, but also other European nations are not happy with what the US does to isolate Russia and move the whole Eurasian continent to the WW III situation. So, this Russia-China 30-year long major economic cooperation will not only help Russia and China, but also the European nations and the whole world.
Yevgeniy Sukhoy