Mr. Michael

Russia's Pact with China: Will Others Follow Suit?

I assume the oil would be paid for (at leat partially) by the interest payments. As China isn't making much of of our T-bonds, it doesn't sound like a bad deal. It would be interesting to find the CAGR of the interest. We would still need to know the details of the contract, which I assume will be hammered out between the respective companies. One thing that isn't clear is whether this is just an extension of the previous oil-by-rail supply contract or if it suggests the new spur to China will be built.