"De-dollarization" Trend in Europe and Russia
ANBOUND
It is reported that Russian President Putin said that Russia should aim to sell its oil and gas in rubles globally. ANBOUND think tank scholars notice that some American think tanks are worried that America's sanctions on Russia is leading to "de-dollarization". The possibility that Europe and Russia will pay for oil and gas in euro is growing. These will obviously weaken the sanctions on Russia. Besides, being the largest commodity trading country, China is using Renminbi in its foreign trade more frequently. Whether China and Russia choose to use ruble or RMB to pay for oil, the result will benefit China.