business
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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