Comment on The Art of the Deal
fluffykittycat@slrpnk.net 2 months agoOil’s being openly sold in yuan now and america can’t do anything about it
Comment on The Art of the Deal
fluffykittycat@slrpnk.net 2 months agoOil’s being openly sold in yuan now and america can’t do anything about it
umbrella@lemmy.ml 2 months ago
Image
where???
Washedupcynic@lemmy.ca 2 months ago
One of the reasons the petroyuan was created was that Russia, Venezuela and Iran may be able to avoid the United States’ sanctions, so nations such as Saudi Arabia, one of the main oil producers and extractors could avoid dollar hegemony and U.S. pressure. The yuan’s main problems are its volatile liquidity and short scale extension, however the Chinese government intervened increasing its gold reserves to back the petroyuan.