pipeline

In a "symbolic blow to U.S. global financial hegemony," China and Russia have agreed to a 30-year, $400 billion gas deal that will provide China with the energy it needs to keep its economy growing and Russia with much-needed capital. And it's all in domestic currencies, bypassing the dollar entirely. Ten years in the making, Russian President Vladimir Putin called the deal an "epochal event" and proclaimed that both countries were very satisfied with the terms.Thirty-eight billion cubic meters of gas will flow from Russia to China.