Why would Russia want to trade in dollars, giving us more power to control transactions?Bruce » 04 Jul 2023, 6:39 pm » wrote: ↑ Normally all oil transactions around the world are in United States dollars, and Russia would most certainly prefer being paid in hard US cash.
But due to successful sanctions against Russia no international bank will handle the deals if Russia is the seller.
So to sell oil Russia must trade in Chinese currency, until sanctions are lifted.
The day afterwards Russia will demand payment in dollars again.