BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says

Publikováno: 26.9.2024

#Economics #brics #China #de-dollarization #Energy #financial system #Herbert Poenisch #Kazan summit #oil trade #omfif #Petroyuan #Project Mbridge #renminbi #Russia #Saudi Arabia #UAE

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BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says

BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan summit. He highlighted Saudi Arabia’s potential shift towards the petroyuan and Russia’s plans to reduce dollar reliance. However, […]