If you said the complete absence of US Dollars anywhere in the funds flow you are correct. Which is precisely what we have been warning would happen the more the West and/or JPMorgan pushed Russia into a USD-free corner. Once again, from our yesterday comment on the JPM Russian blockade:

“what JPM may have just done is launch a preemptive strike which would have the equivalent culmination of a SWIFT blockade of Russia, the same way Iran was neutralized from the Petrodollar and was promptly forced to begin transacting in Rubles, Yuan and, of course, gold in exchange for goods and services either imported or exported.

• Russia Holds Financial Nuclear Bomb To Wipe Out The New World Order!
• China & Russia Have Been Dumping U.S. Dollars Since 2010: Takes Several Years For Impact ~ Its Now 2014.
• Cannabis The Most Medicinal Plant on the Planet: Nicknamed Marijuana!

One wonders:

is JPM truly that intent in preserving its “pristine” reputation of not transacting with “evil Russians”, that it will gladly light the fuse that takes away Russia’s choice whether or not to depart the petrodollar voluntarily, and makes it a compulsory outcome, which incidentally will merely accelerate the formalization of the Eurasian axis of China, Russia and India?”

• China Warns Kerry: Sanctions Against Russia Will Bring “Retaliatory Action” Which This Time Kerry Will Loose!
• BRICS ~ Brazil, Russia, India, China, & South Africa: Block Rothschild’s US and EU Computer Generated Ponzi Bailout Scheme Money Issuances.

In other words, Russia seems perfectly happy to telegraph that it is just as willing to use barter (and “heaven forbid” gold) and shortly other “regional” currencies, as it is to use the US Dollar, hardly the intended outcome of the western blockade, which appears to have just backfired and further impacted the untouchable status of the Petrodollar. More from Reuters:

Iran and Russia have made progress towards an oil-for-goods deal sources said would be worth up to $20 billion, which would enable Tehran to boost vital energy exports in defiance of Western sanctions, people familiar with the negotiations told Reuters. In January Reuters reported Moscow and Tehran were discussing a barter deal that would see Moscow buy up to 500,000 barrels a day of Iranian oil in exchange for Russian equipment and goods.

Cannabis The Most Medicinal Plant on the Planet: Nicknamed Marijuana!

The White House has said such a deal would raise “serious concerns” and would be inconsistent with the nuclear talks between world powers and Iran. Obama’s Idiocracy

Just Remember:

1. Ukraine
2. Syria
3. Iraq
4. Venezuela
5. Ireland
6. Libya
7. Georgia
8. Cyprus
9. Spain
10. Hungary
11. Heads Up: Rothschild Bankers Who Screwed Everyone In Ireland Are Finally On Trial: Ireland Joins Iceland, Egypt, Russia, Hungary, China, & Iran

A Russian source said Moscow had “prepared all documents from its side”, adding that completion of a deal was awaiting agreement on what oil price to lock in. The source said the two sides were looking at a barter arrangement that would see Iranian oil being exchanged for industrial goods including metals and food, but said there was no military equipment involved. The source added that the deal was expected to reach $15 to $20 billion in total and would be done in stages with an initial $6 billion to $8 billion tranche. The Iranian and Russian governments declined to comment. Two separate Iranian officials also said the deal was valued at $20 billion. One of the Iranian officials said it would involve exports of around 500,000 barrels a day for two to three years. “Iran can swap around 300,000 barrels per day via the Caspian Sea and the rest from the (Middle East) Gulf, possibly Bandar Abbas port,” one of the Iranian officials said, referring to one of Iran’s top oil terminals.

“The price (under negotiation) is lower than the international oil price, but not much, and there are few options. But in general, a few dollars lower than the market price.”

Surely an “expert assessment” is in order: “The deal would ease further pressure on Iran’s battered energy sector and at least partially restore Iran’s access to oil customers with Russian help,” said Mark Dubowitz of Foundation for Defense of Democracies, a U.S. think-tank.

• Bilderberg Group Stopped Selling Gasoline To Iran In 2010
• Iran’s Mahmoud Ahmadinejad Never Said, “Israel Must Be Wiped Off The Map”.
• China & Russia Have Been Dumping U.S. Dollars Since 2010: Takes Several Years For Impact ~ Its Now 2014.

“If Washington can’t stop this deal, it could serve as a signal to other countries that the United States won’t risk major diplomatic disputes at the expense of the sanctions regime,” he added.

You don’t say: another epic geopolitical debacle resulting from what was originally intended to be a demonstration of strength and instead is rapidly turning out into a terminal confirmation of weakness. Also, when did the “Foundation for Defense of Petrodollar” have the last word replaced with “Democracies”?

U.S. Dollar Is Losing All Relevancy: Gold Leading The Charge!

The US is moving to broaden its ‘blockade’ efforts of Iran to the movement of pure gold into the Islamic Republic. The US-led embargo of Iranian crude succeeded in slowing the flow of petrodollars into the nation but as Foreign Affairs committee chairman Edward Cohen remarked, there is “no question that there is gold going from Turkey to Iran.”

• Russia & Iran Send Iranian Warships To U.S. Maritime Borders: Counter Iraq Sending Oil To Muslim Brotherhood In Jordan & Turkey For New Front Against Syria.

While the official line from US elite such as Bernanke remains that ‘gold is not money’ it appears that increasingly other nations would disagree, as Cohen admitted, “in large measure what we’re seeing is private Iranian citizens buying gold as a protection against the falling value of Iran’s currency.” It would seem somewhat self-evident that the US is admitting, by attempting to embargo this gold flow, that outside the US, the Dollar is becoming increasingly irrelevant (see China’s gold demand); and that for many countries the petrodollar no longer exists, having been replaced by ‘Petrogold’. “From Petrodollar To Petrogold: The US Is Now Trying To Cut Off Iran’s Access To Gold.” This is why Iraq Hussein & Libya Gadhafi were taken out, because the leaders were using gold instead of Kissinger’s Petrodollar.