Topic: Will the petro-Ruble or the petro-Yuan replace the petro-Dollar? (Read 150 times)
With the BRICS nations moving away from the US dollar, and China creeping towards the status of a reserver currency, what is going to replace the discredited US dollar for oil trading? I thought it was going to be the petro-Ruble, and I even registered the domain name. My reason for this was that Russia is a major oil supplier, and they have been strengthening their currency with the purchase of large quantities of gold. I thought that it was unlikely that a country ( China ) that was a major oil consumer would provide the oil trading currency. However, it looks as if I was wrong. Do you think that there will be a petro-Ruble in the near future?
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