- Oil traders around the world are gradually shifting away from using the US dollar
- Recent reports say major economic powerhouses have used alternative currencies in oil trades in recent times
- Most oil deals in the last year have been settled primarily in the Chinese yuan
Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
Following the Russia-Ukraine war, more countries have moved away from the petrodollar, as over a fifth of global oil transactions in 2023 were done in currencies other than the US dollar.
