Will Iraq's oil sales turn from petro-dollars to petro-yuan?
- Author
- Tish Washington
- Published
- Thu 23 Feb 2023
- Episode Link
- https://podcasters.spotify.com/pod/show/tish-washington8/episodes/Will-Iraqs-oil-sales-turn-from-petro-dollars-to-petro-yuan-e1vdcfm
Will Iraq's oil sales turn from petro-dollars to petro-yuan?
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this is in Iraq's news
Today, Wednesday, international agencies and newspapers revealed news of an Iraqi-Chinese agreement for trade exchange in the local currencies of the two countries.
And the Chinese newspaper Global Times said, quoting statements by Chinese officials, translated by (Baghdad Today), that “the Central Bank of Iraq agreed with the Chinese side, to pay the value of trade exchanges (including oil, which constitutes 90% of trade exchanges between the two countries) in Chinese yuan instead. on the US dollar," pointing out that "this will lead to an improvement in the status of the Iraqi dinar," but at "the expense of weakening Iraq's dollar reserves."
