Sunday, December 15, 2024

Tag: The Petrodollar Just Got Smaller Today as The First LNG Shipment Between UAE and France Is Traded in Yuan

Meanwhile, The Petrodollar Just Got Smaller Today as The First LNG Shipment Between UAE and France Is Traded in Yuan

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    from The Conservative Treehouse:

    Two major energy trade developments today highlight how the Western Alliance is quickly losing a grip on the world energy market, as an alliance between China, Russia, Iran and the Middle East Gulf Cooperation Council starts to take shape with actual trade exchanges that are not in dollars.

    Last year, in response to big panda’s own interest and seeking to exploit two western alliance self-created weaknesses; (1) sanctions against Russia and (2) weakened investment in LNG production; China spearheaded the Shanghai Petroleum and Natural Gas Exchange.