After heated talks about banning Russian oil imports between US and it's allies Canada has proposed that it's oil could help the US replace the imports of Russian crude oil if the Keystone XL Pipeline is approved.
On September 12, Russian President Vladimir Putin stated that, given mounting economic sanctions, full “de-dollarization” of the Russian economy is only a matter of time (RBC, September 12). Putins remark was preceded by a statement from Russian Deputy Finance Minister Alexey Moiseev, who argued that “Russia no longer needs the US dollar as a reserve currency.”
Saudi Arabia had publicly expressed its dissatisfaction with the Biden Administration's lack of assistance for Saudi defense against the Iran-backed Houthis in Yemen before. Now, the US Senate has passed the NOPEC Antritrust bill, paving way for Biden to sue OPEC.
Xi Jinping calls for oil trade in Yuan. The Chinese leader declared that his visit marked the beginning of a new era in relations.