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

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

   BRICS China de-dollarization Economics Energy Financial System Herbert Poenisch Kazan summit oil trade OMFIF Petroyuan Project Mbridge renminbi Russia Saudi Arabia UAE    September 26, 2024  |  0

BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert SaysBRICS 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, […]  Read more »
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