Home Iran oil sanctions could advance China’s ‘petro-yuan’ – Reuters News

Iran oil sanctions could advance China’s ‘petro-yuan’ – Reuters News

Published date: 11 May. 2018 | 05:47

Trump’s decision to walk out of Iran deal could give China leverage to demand oil imports be priced in yuan, several currency experts said on Thursday, according to Reuters News.

Pricing imports in Yuan will spare China the cost of exchanging dollars and would go a long way in helping the world’s second-largest economy internationalize its currency – something that is widely seen hurting USD’s international clout.

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