The contents of this article are written with authoritative materials and personal opinions. The source of the literature has been marked at the end of the article, so please know.

On October 10, the power outage in Ukraine was the most serious and the most serious since the conflict broke out in 2022. The operation of military industrial systems was also seriously affected.

Putin stopped increasing military operations and suddenly showed his trump cards- 29 billion tons of iron ore resources will stir up the global iron ore market¡£

This time, Australia's "Iron Throne" is a little unstable, and it has even penetrated the nest of the US dollar's global resource trade settlement.

Before the fight was over, Putin shifted the front line from artillery fire to the back battlefield of resources and finance.

In early October, Ukraine's national gas transportation company announced that Russia had launched its biggest attack on the energy system since the war.

Missile and drone joint warfare targeted Ukraine¡¯s energy hub, So many cities such as Kharkov, Kiev and other cities had power outages, traffic paralysed, and industrial work stopped.

The Russian side did not specify the number of casualties, but stated that the purpose of the operation was to destroy Ukraine's "military-industrial complex".

Ukraine's air defense system cannot stop so many aircraft.

Energy outages directly cut off the military industry's operating links, and war potential rapidly evaporated.

However, the Ukrainian military¡¯s recent effective counterattacks mostly targeted energy facilities such as Russian refineries.

This reflects that Ukraine's strike power on the frontal battlefield is getting weaker and weaker, and it can only rely on "guerrilla" energy attacks to disrupt the rhythm of the Russian army's offensive¡£

Putin knows that taking the entire territory of Ukraine can only be a temporary victory.A bigger geostrategic battle is taking place on another battlefield, that is, a strategic confrontation with NATO.

In the face of sanctions, blockades, public opinion encirclement and suppression.

Putin did not declare war, but quietly turned the direction, from fighting military victories, to fighting resource wars and financial wars.

According to the current production capacity calculation, a large amount of iron ore can be shipped to the world for years without interruption, and the price system can be reshaped.

But Putin¡¯s real intention is not just the market share, but the right to settle. That is, a "throne challenge" to the US dollar's position in international trade pricing.

As soon as Putin announced the exportation of iron ore, the world's iron ore trade and sale situation unconsciously relaxed.

Recently, BHP Mining Company signed agreements with several steel companies in China. The proportion of iron ore cash transactions settled in RMB reached 30%.¡£

On the surface, this change is only the improvement of bilateral trade, but it is of great significance in the context of global resource trade.

In the past, iron ore, like oil, has been priced and settled in US dollars, so that the United States can control financial dominance, and countries have to be trapped in the US dollar exchange rate during market turmoil.

BHP¡¯s action is equivalent to opening its own gap in de-dollarization, providing a practical access point to new forces such as Russia¡¯s iron ore exports.¡£

Putin released 29 billion tons of iron ore to take advantage of this momentum and ride the wind.

Russia is not short of iron ore.

According to foreign media information, the Turkhanskoy mine in Russia and Kavakta and other places have extremely rich uranium resources, only the reserves of Turkhanskoy. More than 3 billion tons¡£

Such large mineral resources and government dominance on exports have made Russia one of the countries that redefined the international iron ore trade pattern.

This not only makes traditional mining countries such as Australia and Brazil, but also touches the nerves of the global commodity dollar pricing system¡£

However, Russia is not alone. Emerging market countries such as China, India, Iran and Turkey have gradually shifted to local currency settlement in the procurement of energy and raw materials.

According to public data, by the end of 2024, Russia¡¯s share of domestic trade with many countries has already exceeded 90%.

As for strategic resources such as iron ore, if the dollar is continually replaced, its international settlement status will no longer be monopolistic.

In other words, Putin does not need to overthrow the dollar system. He only needs to convince the market that "the dollar is not the only one" and the dominance of the dollar has already been shaken.

Europe is shouting sanctions against Russia, while importing important raw materials from Russia.

In the first half of this year, EU member states imported nearly 2.95 million tons of iron and steel products from Russia. These figures did not make headlines, but they revealed a truth in reality: The dependence on resources is far more real than it is spoken verbally.¡£

It is precisely because Putin knows these principles that he can "dump mines". He knows that the rules of the market and the reality of the strategy are two dimensions. As long as there is enough iron ore and the settlement is convenient, the world will not really drive Russia out of the supply chain.

The iron ore market is now controlled by Australia, which accounts for about 40 percent of the global export market.

But if Russia releases its reserves to seize markets in Asia, Africa and Latin America and continues to promote non-US dollar settlement methods, then Australia's position will become very fragile.

Australia has no shortage of mines, but a lack of strategic depth and settlement options.

China is Australia¡¯s largest buyer of iron ore, and if we deepen our cooperation with Russia, the impact on the entire Australian mining segment would be fatal.

However, once the iron ore market is continuously expanding by the "fracture" settled by the US dollar, it will spread to other fields such as oil, natural gas, etc. Eventually forming a whole, thus systematically weakening the global dominance of the dollar.

Putin did not let down his vigilance because of the temporary victory in Ukraine. He understood that the real battle was fought in the energy, mining and financial systems.

Fire arrows with one hand and lay out the other. The 29 billion tons of iron ore was not a post-war income-generating tool, but a signal to challenge the Western financial system.

When resources begin to be settled in rubles, RMB or other local currencies, when Europe still "cannot refuse" Russian iron ore under sanctions.

When the world¡¯s major iron ore exporters began to shake the dollar settlement... Putin¡¯s card is no longer just an economic move, but a strategic nuclear bomb.

References:

1. "Ministry of Energy of Ukraine: Russia launched attacks on energy facilities in many places in Ukraine, causing a large number of users to lose power" 2025-10-05 17:06 | Source: Financial Associated Press

The only steel ETF in the market (515210) increased by more than 0.7%, and the ratio of iron ore yuan settlement increased 2025-10-13 11:25 PM Source: Daily Economic News

3. "Despite constant sanctions, Russia and Europe still maintain billions of euros in trade" 2025-09-16 21:52| Source: Sina Finance