China is currently sourcing approximately two-thirds of its imported oil and natural gas in RMB rather than US dollars, with Russia and Iran providing oil entirely in RMB and Qatar and others partially in RMB, though China has not yet achieved the goal of 100% RMB energy pricing because convincing major suppliers like Saudi Arabia is deemed too difficult.
factualpending
Speaker
Louis VanthoffEvidence Quote
“they're about two-thirds of the way on natural gas as well um so again like they're they're not at their 100% goal but you know for them it's it's already an important change because by the time you you move to paying for your currency for your oil in your own currency um then you've lost the biggest constraint on your growth right it's like you know it's you can always print your currency you can always get more of it um and you can't suffer from International sanctions”
Source
From Wedlock to Deadlock: The East-West Divorce - with Brent Johnson and Louis Gave— In Gold We Trust [EN]Created: 8/12/2026, 6:04:21 PM
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