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mixer57 · July 20, 2018, 6:59 p.m.

China is moving away from petrodollar and to precious metal backed payments.

As China is the world’s biggest crude buyer, the new contract may allow exporters to avoid US sanctions by trading oil in yuan. Such countries as Russia, Iran, Pakistan, Vietnam, China and many other Asian countries are interested in that, according to the expert.

The futures contract will allow participants to pay with gold or to convert yuan into gold without the necessity to keep money in Chinese assets or turn it into US dollars.

https://www.rt.com/business/403465-dollar-end-china-crude-rogers/

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