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breaking news Chinese President Xi advocates Yuan settlement of oil and gas trade with Gulf states

Xi is on a trip to Saudi Arabia today and there he said the Gulf states should make full use of the Shanghai National Oil and Gas Exchange as a platform to conduct yuan settlement of oil and gas trade. gas.

I don’t know how effective it will be in pushing trade in that direction, but given what happened to Russia’s US dollar holdings, there are certainly a few Gulf states that wouldn’t mind an alternative.


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