“Xi Jinping wants to convert the yuan into the petroyuan.” Lorenzo Ramirez
“We have that bloc policy after the Western sanctions on Russia for the civil war in Ukraine. The largest importer of crude oil and the largest exporter of crude oil have ties that are strengthening. Saudi Arabia and China have a very good relationship. It is the first country that Xi Jinping visits bilaterally,” says Lorenzo Ramírez, an economic journalist.
“China is Saudi Arabia’s biggest trading partner. The only thing that had prevented a meeting of these countries was the relationship with the US. Xi Jinping wants to convert the yuan to the petroyuan. The US is the world’s biggest arms exporter, but if that changes, military ties between China and Saudi Arabia could intensify.
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#lorenzoramirez
#Petroleum
#raw
#yuan
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