Europe Has No Choice, Russia Requires RMB To Settle Natural Gas | China is The Biggest Winner!

#china #chinanews #Russia #Europe #usa #renminbi #dollar ✨✨✨✨✨✨✨✨✨✨✨✨ As one of the world’s largest energy exporters, Russia is known for its vast oil and natural gas reserves. The country’s oil reserves rank eighth in the world and its natural gas reserves rank first. In order to suppress Russia’s energy economy, EU countries reached a consensus in December last year and decided to completely ban the import of Russian crude oil by sea. Subsequently, the Group of Seven, the European Union and Australia implemented a price limit policy on Russian oil, setting a price ceiling for Russian crude oil exported by sea at US$60 per barrel. But for Russia, the most significant blow may not be direct restrictions on energy trade, but sanctions in the financial sector. Since the United States and Europe decided to exclude Russian banks from the SWIFT payment system, Russia has been unable to complete cross-border fund settlements, and a large number of oil and gas transactions have been severely hampered. In response to Western SWIFT sanctions, Russia also announced an important strategy: in the future, all energy transactions will only accept gold, renminbi, and rubles, instead of leading Western currencies such as the U.S. dollar or euro. Among these three currencies, the RMB has become the preferred choice for Russian currency settlement due to its higher liquidity in the international market, China’s relatively stable economic and political situation, and the growing trade between China and Russia in recent years. prior choice. At the Belt and Road Summit held in Beijing, China this year, Russian President Vladimir Putin directly stated publicly that in the future, Russia will support the global use of RMB, and any country will be able to use RMB to purchase Russian energy and other products. So, in today’s video we will explain what are the benefits of using RMB settlement for Russia? Will Europe be willing to use rubles or renminbi to purchase Russian energy in the future? ----------------------------------------------