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
All warfare is based on deception. Hence, when able to attack, we must seem unable; when using our forces, we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near. Sun Tzu, The Art of War
The Empire of Chaos is relentless. Lawfare, destabilizations, sanctions, kidnappings, color revolutions, false flags, annexations: 2025 will be the year of BRICS – plus BRICS partners – as choice targets under fire.
Inestimable Prof. Michael Hudson coined “chaos” as official US policy. That’s bipartisan – and it runs across all silos of the Deep State.
In the absence of long-term strategic vision, and amidst the progressive imperial expulsion from Eurasia, all that’s left for the Hegemon is to unleash chaos from West Asia to Europe and parts of Latin America – a concerted attempt to Divide and Rule BRICS and thwart their collective drive affirming sovereignty and the primacy of national ...
While NATO may be yearning to take on Russia in the Arctic, many of its troops lack the necessary expertise for survival in such extreme conditions.
Although NATO forces regularly participate in drills in the region, many remain unprepared for the harsh realities of Arctic life.
Though NATO forces routinely participate in the bloc’s drills in the region, many of them are still not prepared to survive in the Arctic’s harsh conditions, The Sun reports citing Minna Alander, a researcher at the Finnish Institute of International Affairs.
"Not all NATO allies have the capabilities that are needed and that work in the Arctic environment and climate,” Alander said.....more below
