Petrodollar and Petroyuan: Difference between pages
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imported>Doug Williamson (Classify page.) |
imported>Doug Williamson (Recreate page to correct date in source. Source: The Treasurer, April 2017, p39.) |
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Revenue from the sale of oil, denominated in | Revenue from the sale of oil, denominated in yuan renminbi. | ||
<span style="color:#4B0082">'''''Crude to China, yuan to Iran'''''</span> | |||
:"Being the world's largest trading nation and net importer of crude oil, China would also naturally desire to make at least part of its oil payments in renminbi. | |||
:Beijing hopes that the rise of the petroyuan will provide a stable anchor to the value of the renminbi, thereby establishing the renminbi as a global reserve currency. | |||
:China has already been paying part of its purchase of Iranian oil in renminbi as early as 2012, as Iran sought to get around Western financial sanctions." | |||
:''The Treasurer magazine, April 2017, p39 - Florence Eid-Oakden, chief economist at Arabia Monitor.'' | |||
== See also == | == See also == | ||
* [[ | * [[China]] | ||
* [[Hydrocarbons]] | * [[Hydrocarbons]] | ||
* [[MENA]] | |||
* [[OPEC]] | * [[OPEC]] | ||
* [[Peak oil]] | * [[Peak oil]] | ||
* [[ | * [[Petrodollar]] | ||
* [[Renewables]] | * [[Renewables]] | ||
* [[Reserve currency]] | |||
[[ | * [[Yuan renminbi]] | ||
Revision as of 10:33, 12 April 2017
Revenue from the sale of oil, denominated in yuan renminbi.
Crude to China, yuan to Iran
- "Being the world's largest trading nation and net importer of crude oil, China would also naturally desire to make at least part of its oil payments in renminbi.
- Beijing hopes that the rise of the petroyuan will provide a stable anchor to the value of the renminbi, thereby establishing the renminbi as a global reserve currency.
- China has already been paying part of its purchase of Iranian oil in renminbi as early as 2012, as Iran sought to get around Western financial sanctions."
- The Treasurer magazine, April 2017, p39 - Florence Eid-Oakden, chief economist at Arabia Monitor.
