The Petro-Yuan and Petrified Dollar
How much do the events in Syria, Saudi Arabia and the Middle East relate to the potential transition from petrodollar to petroyuan? Yuan oil futures are sold on the Shanghai International Energy Exchange. Russia is the largest exporter of oil to China and will earn huge oil revenues in yuan. Syria is strategic in the transport of energy (oil and gas) to Europe. Any energy flow via Syria to Europe would be priced in euros or other, but certainly not the dollar. Currently the U.S., U.K. and France are aligned against the interests of the Shanghai Cooperation Organisation (SCO). SCO is basically the NATO equivalent for the One Belt One Road initiatives of the Chinese.
https://www.rt.com/business/423461-petro-yuan-us-dollar-oil/
You got a 2.66% upvote from @emperorofnaps courtesy of @clumsysilverdad!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
Release the Kraken! You got a 9.24% upvote from @seakraken courtesy of @clumsysilverdad!