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De-Dollarization Accelerates as Oil Giants Shift to Yuan Settlements
De-Dollarization Accelerates as Oil Giants Shift to Yuan Settlements
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Five major oil companies have begun settling transactions in Chinese yuan instead of US dollars, marking a significant shift in global energy markets. Sinopec, China’s largest refiner, recently established a $4 billion yuan-denominated joint venture with Saudi Aramco—a strategic move that underscores Beijing’s growing influence in commodity markets.
The transition reflects broader geopolitical realignments and weakening confidence in dollar hegemony. While no cryptocurrencies were directly mentioned in this report, such macroeconomic shifts typically increase institutional interest in decentralized assets as hedges against currency volatility.
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