Venezuela Publishes Oil Prices in Chinese Yuan

ArticleChange of moneySeptember 26, 2017 - 8:23:38 AM

Venezuela has put its threat into effect by publishing the price of its oil in Yuan and no longer in US dollars. This is the business of China, which continues to expand its influence.

On September 15, Venezuela began to publish prices for its oil in the Chinese yuan rather than in United States dollars, following President Nicolás Maduro’s promise earlier in the month to rid the South American country’s economy of the “tyranny of the dollar.” News emerged on September 13 that Venezuela was telling oil traders that it will stop receiving or sending payments in dollars.

Source:The Trumpet

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