Could US sanctions and closer Middle East ties fuel the rise of China’s petroyuan?

Apr 2, 2021 | INVESTING

A string of energy-rich economies appear to be moving closer into China’s orbit, expanding economic ties and potentially fuelling the rise of the petroyuan, analysts say.Chinese Foreign Minister Wang Yi ended a week-long tour on Tuesday of Saudi Arabia, Turkey, Iran, the United Arab Emirates, Bahrain and Oman, vowing to help protect their core interests against foreign interference amid rising pressure from the United States. Facing sanctions itself, China could be looking to secure long-term…

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