China's Xi advocates for yuan settlement of oil and gas trade with Gulf states

[forex4you]

China's Xi advocates for yuan settlement of oil and gas trade with Gulf states

<p>Xi is on a trip to Saudi Arabia today and there he <a href="https://www.reuters.com/business/energy/chinas-xi-tells-gulf-nations-use-shanghai-exchange-yuan-energy-deals-2022-12-09/" target="_blank" rel="nofollow">said </a>that Gulf states should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade.</p><p>I don't know how effective he will be at pushing trade in that direction but given what's happened to 's US dollar holdings, there are certainly a few Gulf states that wouldn't mind an alternative.</p>

                This article was written by Adam Button at www.forexlive.com.

Source: China's Xi advocates for yuan settlement of oil and gas trade with Gulf states

forexlive.com