Chinese Yuan Surges in Crude Oil Payments, Accelerating De-Dollarization Trend
Chinese Yuan Surges in Crude Oil Payments, Accelerating De-Dollarization Trend
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A recent report from watcher highlights a significant shift in global finance, noting that crude oil payments made in Chinese Yuan have tripled. This development is seen as a major factor aiding the de-dollarization movement, particularly in the wake of geopolitical tensions and conflicts that erupted in late February.
After the US, Israel, and Iran war broke out in late February, the procurement of crude oil came…