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
US President Donald Trump confirmed on Wednesday the upcoming start of ground strikes against drug cartel targets in Latin America.
He made the remarks during Christmas greetings to the military.
Trump said the United States was "now going after the land" in its fight against drug cartel targets, noting that drug trafficking by sea was down 96 percent.
The U.S. president also extended special congratulations to the crew of the aircraft carrier USS Gerald R. Ford, currently deployed in the Caribbean.
BEIJING (Sputnik) - China has begun operating the world's first intelligent ultra-large oil tanker powered by methanol, the China Central Television (CCTV) reported on Monday.
The tanker, designed to transport crude oil, was successfully put into operation in the city of Dalian in China's northeastern coastal province of Liaoning, the report said. State-owned company Dalian Shipbuilding Industry Co Ltd independently designed and built the vessel, it added.
The tanker is approximately 333 meters (1,092 feet) long and can carry around 2.1 million barrels of crude oil, the CCTV reported. Designed to produce low emissions and having intelligent control capabilities, the tanker will serve the route to the Middle East, among others, according to the report.
The vessel is powered by a dual-fuel methanol engine, which reduces carbon dioxide emissions by 92% compared to conventional fuel, the CCTV reported. It is equipped with an intelligent ship platform, an intelligent liquid cargo ...
A car bomb has killed a senior General Staff member, officials have confirmed
Source: The Investigative Committee
A Russian general has been killed in a car bomb blast in Moscow, the Investigative Committee has reported.
Officials identified the victim as Lt. Gen. Fanil Sarvarov, head of operational training at the General Staff. According to the statement, an explosive device had been planted beneath the vehicle he was traveling in, and detonated on Monday morning in the southern part of the Russian capital.
The blast also damaged several other vehicles and seriously injured Sarvarov’s driver, media reports stated.
Russian officials said one line of investigation is an assassination carried out by Ukrainian intelligence services, noting that Kiev has previously used explosive devices in targeted killings of officials and public figures.
Last December, a bomb hidden in an e-scooter killed Lt. Gen. Igor Kirillov, commander of Russia’s Nuclear, Chemical, and Biological Defense ...
