2 Ukrainian regional officials alleged of corruption, nearly $6 million found

According to the State Bureau of Investigation (SBI) two Ukrainian officials from western Khmelnytskyi Oblast alleged of corruption were holding at home nearly $6 million in cash.

The homes and workplaces of the head of the Khmelnytskyi Regional Center for Medical and Social Expertise and her son, a senior official in the main department of Ukraine's Pension Fund in the region, were searched in another case when the cash was exposed.

Russia's Economic Lifeline From China Is Expiring

The expiration of a U.S. government license this week might make it even more difficult for Russian firms to pay using Chinese yuan (RMB), now the most-traded foreign currency in the sanctioned country.

U.S. Treasury's Office of Foreign Assets Control (OFAC) sanctions against the Moscow Exchange (MOEX) and its subsidiary, the National Clearing Center (NCC), took effect on June 13.

The Petrodollar Is Dead, Long Live the Petrodollar

The petrodollar died this month -- or so I learnt via the financial blogosphere. In the past fortnight, Google searches for “petrodollar” have spiked to a record, and viral posts about Saudi Arabia ditching the greenback have ricocheted throughout commodity and currency trading rooms. Apparently, a cataclysmic event has ended American economic hegemony.



Epochal stuff — and completely false. Nonsense on stilts.

Pennsylvania waste management facility collects millions of dollars worth of tossed out coins

The expression "one man's trash is another's man's treasure" is near and dear to one Pennsylvania waste management facility that bridges the divide between trash and treasure on a massive scale – collecting $10 million in lost change since its inception.

"What we have is a series of assorted materials," Rebecca Guardino, Director of Ash Processing at Reworld, told FOX Business' Jeff Flock as they sorted through a bin inside the facility on Monday.

Reports of the petrodollar system’s demise are ‘fake news’ — here’s why

It seemed like big news, and many wondered why the mainstream media had seemingly ignored it. Turns out, there was a very good reason.

Earlier this week, reports circulating widely on social-media platforms like X offered up a shocking proclamation: A 50-year-old agreement between the U.S. and Saudi Arabia requiring that the latter price its crude-oil exports in U.S. dollars had expired on Sunday.

Saudi Arabia ends 80-year petrodollar deal with US for multi-currency sales

Saudi Arabia’s 50-year petrodollar agreement with the US expired on Sunday, June 9, 2024, giving Saudi Arabia the freedom to sell oil in various currencies. Saudi Arabia’s decision not to renew its contract allows for the sale of oil and goods in multiple currencies, like the Chinese RMB, Euros, Yen and Yuan. This move is anticipated to speed up the use of currencies other than the US dollar in global trade.

Saudi Arabia Exits US Petrodollar Deal

The financial markets are bracing for disruption now that Saudi Arabia decided not to renew its 50-year petrodollar partnership with the United States, MSN reported.

This opens the door for Saudi Arabia to sell oil and other goods — instead of exclusively in the U.S. dollar — in multiple other currencies, including the Chinese renminbi, and in euros, yen, and digital currencies such as bitcoin.

Saudi Arabia’s shift to other currencies is expected to hasten the global movement away from the dollar.