BRICS eye Petroyuan for oil trade amid de-dollarization push, expert says

BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing de-dollarization efforts, according to economic expert Herbert Poenisch. He noted that the BRICS group may discuss alternatives to the petrodollar at the Kazan summit. He pointed to Saudi Arabia’s potential switch to the petroyuan and Russia’s plans to reduce dependence on the dollar. However, (…)