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renminbi

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

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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,…

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What It Means for Global Trade

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China’s Renminbi use in global transactions has hit new highs. This change is reshaping how countries trade and settle payments worldwide. The rise of Renminbi internationalization is changing cross-border transactions. Also Read: Ethereum Underperforms Bitcoin 44% Since Proof of Stake Switch Renminbi Internationalization: Impact on Cross-Border Transactions and Trade Settlement Record-Breaking Usage The State Administration…

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