Goodbye Petrodollar: Russia Accepts Yuan, Is Now China’s Biggest Oil Partner

Russia reaps the rewards of dumping the dollar. Russia is now the top crude exporter to China, the largest (or second largest, depending on whom you ask) oil demand growth country in the world, Russia Insider writes. At the start of the decade, Saudi Arabia enjoyed a 20% share of Chinese crude imports, while Russia was lagging far behind with 7%. … Continue reading Goodbye Petrodollar: Russia Accepts Yuan, Is Now China’s Biggest Oil Partner