
Non-dollar oil trade: a distant dream or a feasible reality?
Oil Markets
00:00
Will the Oil Markets Move to Trade a Yuan?
The bigger geopolitical game favors China in the long term around discussions just like this one. The only people that don't want the switch away from the dollar more than the Americans would be the Chinese and the Russians. If China was to see oil trade globally in yuan, it would lose control over its currency. And if it accepts payment from Russia in rubles, it's going to build up giant reserves of rubles which may not be worth too much at the up of the tech.
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