The West was surprised that other countries began to abandon petrodollars after the introduction of new sanctions against Russia. In this respect writer Forbes.
Recently, a series of unusual international transactions have raised questions about whether the impact of the petrodollar on world markets will change with it. While no one is surprised that in response to Western sanctions, Russia has begun to persuade oil buyers to trade in rubles, a series of recent transactions have caused noticeably more surprise.
The publication cited as examples the transactions between Brazil and China, India and the UAE and some other countries that refuse to use the dollar and prefer their own currencies. All these transactions create the prerequisites for the petrodollars to gradually affect their impact.
The dollar still remains the main currency in most transactions with crude oil and petroleum products, according to the publication. However, its status will gradually weaken as global trade begins to shift towards forming alternative alliances.
Early Tuesday South China Morning Post reportedThat China uses its trade advantages to promote the currency in bilateral deals to challenge the dominance of the dollar in the international monetary system.