
Non-dollar oil trade: a distant dream or a feasible reality?
Oil Markets
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The Global Oil Community Is Ready to Treat Currencies Other Than Dollar
The global oil community is already trading in currencies other than dollar. One reason being that the sanctions US has put on Russia, Venezuela, and Iran. The amount of oil being traded in a renminbi or other currency rupees, Indian rupee is still very, very small. But for that to happen, something significant will have to take place in terms of getting a market share.
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