According to Reuters, Russia has overtaken Saudi Arabia to become China’s top oil supplier after Chinese imports of crude from Russia jumped by 23.8% year over year to 1.94 million barrels per day (bpd) in January and February 2023.
The History of Oil One of the most important relationships was influenced the most by these 10 influential figures.
The world’s largest supplier of crude oil, Saudi Arabia, is open to negotiating non-dollar oil trade settlements, according to Mohammed Al-Jadaan, the Saudi finance minister, in an interview with Bloomberg TV on Tuesday in Davos.
Xi Jinping calls for oil trade in Yuan. The Chinese leader declared that his visit marked the beginning of a new era in relations.
According to Bloomberg, China and India are buying Russian crude at a 40% discount, and Moscow may be losing $4 billion in energy earnings every month as a result of its war in Ukraine.
The Eurasia Economic Union (EAEU) is speeding up its design of a common payment system, which has been closely discussed for nearly a year with the Chinese under the stewardship of Sergey Glazyev, the EAEU’s minister in charge of Integration and Macro-economy.
The US Maritime Administration of the Department of Transportation has approved Enterprise’s Sea Port Oil Terminal’s proposal to build a huge Gulf oil terminal.
The end of world dollar hegemony is coming, and hardly anyone in government is taking notice or even understanding what this means. Since the Bretton Woods Conference in 1944, the dollar has been the only currency accepted throughout the world for settlement of international trade accounts among nations.
Kish, since you are wondering, is an Iranian island in the Persian Gulf famed for its tourist and shopping attractions. It is becoming a serious rival to other nearby vacation hubs in Doha and Dubai.