Posted inChinaHong KongIranIraqMiddle EastRussiaShanghaiWorld

China may now have leverage to push Saudis to accept RMB for oil

Now that King Salmon has gone to Moscow and bought the Russian’s S-400 air defense system, all sorts of things become possible. China is the marginal buyer of oil in the world, and there has been a big shift in its imports toward Russia and away from Saudi Arabia. The Iranian sphere (Iran+Iraq+Oman) remain roughly […]