It must be emphasized how historic this is: For decades, virtually all energy from the Persian Gulf was sold in dollars. Now China is buying LNG from the UAE in its own currency, yuan.
US economic hegemony has heavily relied on the petrodollar system, which is now breaking apart https://t.co/0TWxXBG2Bc
— Ben Norton (@BenjaminNorton) March 29, 2023
My work is entirely reader-supported, so if you enjoyed this piece please consider sharing it around, following me on Facebook, or Twitter, or throwing some money into my tip jar on Patreon or Paypal. The best way to make sure you see the stuff I publish is to subscribe to the mailing list for at my website which will get you an email notification for everything I publish. Everyone, racist platforms excluded, has my permission to republish, use or translate any part of this work (or anything else I’ve written) in any way they like free of charge. For more info on who I am, where I stand, and what I’m trying to do with this platform, click here.