The U.S. is adamant that its assassination of Qassem Soleimani and refusal to leave Iraq is about protecting Americans, but a little known Iraqi parliamentary session reveals how China increasingly strong ties to Baghdad may be shaping America’s new Mideast strategy.
The coming introduction of a “petroyuan” marks one of the most significant bids to date by countries seeking to dump the U.S. “petrodollar.”
BEIJING -- Wall Street is bracing for a potential shake-up as China is set to launch its first-ever crude oil futures contract late March at the Shanghai Futures Exchange. The move, which had been laid out in 2012 but faced delays over possible market turbulence, could represent a bold step forward in China’s rise as an economic superpower and
Venezuela’s new digital currency will allow the South American nation to circumvent U.S. sanctions by taking advantage of the global demand for oil.
Months after Russia became the first country to announce the creation of a state-backed Cryptorouble, Venezuela has followed suit, announcing the creation of El Petro, a state-sanctioned cryptocurrency to be backed by Venezuela’s extensive reserves of crude oil. Venezuela has already broken free of Dollar dependence months ago
The establishment of China’s petroyuan will allow countries to limit their dependency on the U.S. dollar, and to circumvent U.S. sanctions.
Financial analysts are increasingly pointing out that China has some very grand plans when it comes to petroleum markets, and that if those plans succeed, the U.S. could see the dollar
