The Chinese government issued its first petroyuan-denominated long-term oil trading contracts in the spring of 2018, with the move posing an audacious challenge to the petrodollar - the powerful instrument of global trade and finance ensuring the US dollar's status as the de facto world reserve currency for over 50 years now.
Saudi minister of industry and mineral resources Bandar Al-Khorayef told the South China Morning Post this week that Riyadh is ready to “do what’s in its best interest” and “try new things,” including as far as the use of the petroyuan in settlements for crude oil are concerned.
The comments, made on the eve of Chinese Premier Li Qiang’s trip to Saudi Arabia and the UAE starting Wednesday to discuss expanded cooperation with the oil rich Gulf kingdoms, signal a "new dawn" in relations between China and Gulf powers, Dr. Wang Zhimin, director of the Institute of Globalization at China’s University of International Business and Economics, told Sputnik.
“In energy cooperation between China and the Middle East, settlements using the yuan have become an important topic. The expansion of the use of the currency in settlements for energy transactions is a gradual and long-term process that requires step-by-step reforms, opening up, and natural market selection. In addition, given the relationship with the United States, the process of using the yuan to settle cross-border oil transactions by countries such as Saudi Arabia may encounter certain difficulties,” Wang said, pointing to US efforts to shore up the petrodollar as Washington’s global economic hegemony fades.
Pointing to the trend of “dedollarization” in China-Middle East trade, Wang cited the currency swap agreement reached between Beijing and Riyadh last year, and interest in using the yuan for oil payments as a reflection of a “growing trend of diversification of the international monetary system, including the decline of the dollar’s share in international payments.”
Russian economist Nikita Maslennikov says the petroyuan has good prospects as a major alternative to the petrodollar, which could leave it accounting for up to 8% of global transactions by 2030, notwithstanding “strong pressure, including political pressure, from other market players," and other factors.
“Sooner or later a single BRICS settlement system will emerge, and Saudi Arabia is also going to be part of it,” Maslennikov said, noting that it’s “extremely difficult” to predict the future status of the petroyuan amid plans by some countries to forge ahead with an “energy transition,” and take other steps, like launching digital currencies, which could lead “to a significant adjustment of settlements in national currencies.”......more below
Civilian agencies were used to mask defense-related research, Major General Aleksey Rtishchev has said
The US Agency for International Development (USAID) could have been involved in testing pharmaceutical drugs on Ukrainians, a senior Russian military official said on Friday. The agency was officially closed by the administration of US President Donald Trump this summer.
According to Major General Aleksey Rtishchev, the head of Russia’s Nuclear, Biological and Chemical Protection Troops, US officials have acknowledged defense-related work at biological laboratories in Ukraine.
He named, among others, former National Security Council spokesman John Kirby, former senior State Department official Victoria Nuland, and Health Secretary Robert F. Kennedy Jr.
Rtishchev noted that Cornell University organic chemistry professor Dave Collum told American journalist Tucker Carlson in.......more below
Certain jabs can cause immune cells to attack the body, leading to myocarditis and pericarditis, particularly in young men, scientists say
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Covid vaccines linked to heart damage – study
Certain jabs can cause immune cells to attack the body, leading to myocarditis and pericarditis, particularly in young men, scientists say
Covid vaccines linked to heart damage – study
FILE PHOTO. Doctor prepares vaccine syringe. © Getty Images / Luis Alvarez
Certain Covid-19 vaccines can trigger immune responses that may inflame heart tissue and lead to potentially fatal complications in rare cases, with young men being especially susceptible, according to a new study.
The paper, authored by Stanford University researchers and published in the Science Translational Medicine journal, examined why some patients developed myocarditis or pericarditis after receiving mRNA...
Caracas has accused the US of seeking to overthrow the government under the guise of an anti-drug campaign
The US could begin land strikes targeting alleged Venezuela-linked drug operations “pretty soon,” President Donald Trump has said, while claiming to have almost completely stopped narcotics inflow by sea. Venezuela has vehemently denied having any links to drug cartels.
Speaking to reporters at the White House on Friday, Trump claimed Venezuela-linked maritime drug trafficking had dropped by 92%, saying US forces were “knocking out drugs at levels that nobody’s ever seen before.” “We knocked out 96% of the drugs coming in by water,” he added, later asserting, “It's going to be starting on land pretty soon.”
The US leader, however, provided no details on potential targets or the scope of the operation.
Since September, US forces have significantly ramped up military presence in.....more below
https://www.rt.com/news/629412-trump-teases-land-strikes-venezuela/
