News in Brief
‘End of U.S. dollar dominance
is nigh’
REUTERS – The end of the dominance of the U.S. dollar is nigh as the Chinese yuan rises and the rest of the world sees the peril of the West’s failed attempt to bring Russia to its knees over Ukraine, one of Moscow’s most powerful bankers said.
Andrei Kostin, the CEO of state-controlled VTB, Russia’s second-largest bank, said the crisis was ushering in sweeping changes to the world economy, undermining globalisation just as China was taking on the mantle of a top global economic power.
Mexican, Russian oil shipments ease Cuban fuel crisis
AFP – With oil tankers docking from Mexico and Russia in recent days, Cuba could see its severe fuel shortage ease for the near future. Since the end of March, cars queuing for gasoline have been a common site in Cuba, and service stations have created WhatsApp groups to organize customers.