China has begun to conduct cross-border crude oil settlements in digital yuan. The China National Petroleum Corporation (CNPC) has recently bought 1 million barrels of crude oil using the nation's digital currency, according to the Chinese press.
The idea of a digital yuan, or renminbi (RMB), formally known as the Digital Currency Electronic Payment (DCEP), was quietly introduced in 2014, with the Chinese authorities keeping silent about the bold project until 2019. Since 2020 the new digital currency has been tested by several Chinese cities. Thus, in October 2020 Shenzhen issued 10 million yuan worth of digital currency to 50,000 random residents who applied to take part in the experiment.
Despite doubts voiced by skeptics about the project's efficacy, Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced on Friday that the China National Petroleum Corporation (CNPC) had completed a deal which envisaged the purchase of 1 million barrels of crude oil with digital RMB. The deal in question was reportedly carried out with the digital yuan wallet provided by the Bank of Communications.
Chinese media quoted Tu Hong, president of the Bank of Communications Shanghai branch, as saying that cross-border yuan settlements could "reduce the reliance on the current international transaction network, further ensure security, lower costs and simplify the transaction process.".....more here
https://sputnikglobe.com/20231028/digital-yuan-chinese-currencys-internationalization-goes-full-throttle--1114559958.html
Pentagon
Telaviv is reportedly concerned that Trump could reach a deal with Tehran without ordering military strikes
A senior Israeli military delegation led by IDF Chief of Staff Lt. Gen. Eyal Zamir made a secret visit to Washington over the weekend amid intensifying tensions over Iran’s nuclear and missile programs and a growing US military presence in the region.
According to Israeli and US media reports, Zamir met with Chairman of the Joint Chiefs of Staff Gen. Dan Caine and other senior US defense officials at the Pentagon to present sensitive intelligence, discuss military options against Iran and attempt to shape ongoing diplomatic contacts between the Trump administration and Tehran.
The visit, which had not been publicly disclosed at the time, comes as Israel is growing increasingly concerned that US President Donald Trump could ultimately strike a deal with Iran focused narrowly on freezing uranium enrichment while leaving Tehran’s ballistic missile program largely intact and ...
Negotiations over the agreement between Kinshasa and Washington lack transparency and breach Congolese law, Corneille Nangaa has claimed
An agreement between the Democratic Republic of the Congo (DR Congo) and the US on critical minerals is “deeply flawed and unconstitutional,” the leader of a rebel coalition in the Central African nation has told Reuters.
Corneille Nangaa, who leads the Alliance Fleuve Congo (AFC), which includes the M23 force, said the deal was negotiated behind closed doors and breaches Congolese law.
The strategic partnership, part of the Washington Accord for Peace and Prosperity signed on December 4, is intended to expand US access to critical minerals in return for investment and security cooperation.
However, Nangaa told Reuters on Monday that “the opacity surrounding the negotiations” and “procedural flaws, particularly the violation of the constitution and the law,” undermine the agreement’s legitimacy.....more below
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Mercenaries behind the assault were backed by French President Emmanuel Macron and his Benin and Ivory Coast counterparts, the Sahel state’s leader has said
Niger’s transitional leader, General Abdourahamane Tchiani, has accused France and neighboring Benin and Ivory Coast of sponsoring a “cowardly attack” on the main international airport in the Sahel state’s capital early on Thursday.
Gunfire and explosions were reported near Diori Hamani International Airport around midnight before officials said the situation had been brought under control.
Some aircraft were reportedly damaged, but no serious civilian injuries were reported. Niger’s national broadcaster said a French national was among the suspects killed in the clashes and aired footage showing several bodies on the ground.
Speaking on state television after visiting Air Base 101, next to the airport in Niamey, Gen. Tchiani named French President Emmanuel Macron, Benin’s Patrice Talon, and Ivory Coast’s Alassane Ouattara as ...
