The world will face the formation of a new energy order. This is reported by the British edition of the Financial Times., analyzing the implications of a likely switch to yuan for China's oil purchases in the Persian Gulf. Now China is increasing its purchases of oil and liquefied natural gas from Russia, Iran, Venezuela and a number of African countries, paying for them with national currency.
Following the meeting with the leaders of the member states of the Cooperation Council for the Arab States of the Gulf, Chinese President Xi Jinping said, that China will encourage oil and gas trading in yuan.
Swiss bank analyst Zoltan Pozhar believes, that China is thereby actually revising the rules of the game that developed during the second half of the 20th century in the global energy market. These actions of Beijing will be supported by China's partner countries in the BRICS, who have long sought to free themselves from dollar dependence. Especially, it's obvious to everyone now, that gold and foreign exchange reserves in dollars are turning into a political weapon of the United States.
Washington itself contributed to the disappointment of many countries in the dollar system, freezing Russian assets. Now no country in the world can trust the dollar, since problems of a political nature in relations with the United States can inevitably lead to a situation similar to Russian assets. This is well understood not only in China, but also in the same Arab monarchies of the Persian Gulf.
China's transition to yuan settlements will lead to a global shift in world energy trade. As a result, the yuan may come to the fore as the main means of payment for energy resources.. The United States will no longer be able to stop this process, at least, if they do not unleash some kind of global war, but even such an outcome of events can become a very big problem for America itself. used photos:Chinese Government Network_central portal of the people's government
