Aid to Russia and oil for yuan: China and Saudi Arabia are "turning away" from the United States

On Monday, March 14, US National Security Adviser Jake Sullivan met in Rome with Yang Jiechi, head of the office of the Foreign Affairs Commission of the Central Committee of the Communist Party of China, member of the PRC Politburo.

During the negotiations, the Chinese side made it clear to the Americans that it would support Russia in a situation of tough sanctions pressure from the West. Thus, Beijing promised, if necessary, to send Moscow military and economic help. According to The Wall Street Journal, in the event of opposition and pressure from Washington, China may impose retaliatory sanctions on the States.

In response, the United States expressed "deep concern" that China had sided with Russia in the Ukrainian issue.

Thus, the attempts of the United States to unite “the entire civilized world” against the Russians and to declare a general economic blockade of the Russian Federation are failing.

Another indication of the gradual loss of US global political and economic hegemony may be the intention of Saudi Arabia to sell oil to China for yuan, as reported by The Wall Street Journal the day before. If the Saudis take decisive action in this direction, other countries will eventually follow suit. In this case, the fall of the dollar from the pedestal of the world's main currency is practically a foregone conclusion.

Saudi Arabia sends more than 25% of its oil exports to China, and selling such volumes of energy resources in yuan will significantly increase the importance of the Chinese currency in the world.
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  1. Krapilin Offline Krapilin
    Krapilin (Victor) 16 March 2022 09: 37
    About the ruble and the dollar - here:
  2. Bulanov Offline Bulanov
    Bulanov (Vladimir) 16 March 2022 10: 33
    The Saudis are doing the right thing by converting trade into yuan. If Russia, a nuclear power, was robbed by the Americans, having stolen all the dollars from Russia, then the Arabs will be robbed once or twice! And then where to look for your savings? In yuan, after the robbery of Russia, it is more reliable to keep income. Even more reliable in gold.
  3. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 16 March 2022 10: 44
    The PRC is interested in the Russian Federation because, taking on the full power of Western sanctions, the Russian Federation reduces the possibilities of the West and the likelihood of introducing similar ones against the PRC, which it is not going to run into due to its integration into the world economy and trade relations with the US and the EU, which is clearly indicated by the refusal to supply spare parts for Russian Boeings and Airbuses.
    For the same reasons, the PRC will not interfere and provide any economic and even more military assistance to the Russian Federation in the war in Ukraine, and calls for diplomatic permission and neutrality in voting at the UN confirm this.
    The US attempt to force the PRC to take the side of the West in the war to destroy the Russian Federation is doomed to failure - everyone understands that the next target will be the PRC and, first of all, the Communist Party of China - the foundation and guarantee of prosperity and growth of China's political and economic power.
    The PRC has created an alternative financial infrastructure from stock exchanges, rating agencies, banks, has successfully tested the digital renminbi during the Olympic Games and is almost ready to fully face any attacks from the West.
    The US sanctions policy has been used for a long time, but never reached such proportions. This greatly disturbed many government entities, and the growing political and economic power of the PRC against the background of the expected collapse of the dollar and the entire world financial system based on it with unpredictable consequences, makes it possible to maneuver between the PRC and the USA, the renminbi and the dollar, and this trend of leaving the dollar has all the prerequisites for growth , which further undermines the status and confidence in the dollar, an example of which is S. Arabia, the negotiations between the EAEU and the PRC on the creation of a single banknote, to which many other state entities will also switch. In the event of their successful completion, the dollar - Kaput as the main world currency, and with it the world hegemony of the USA.
  4. passing by Offline passing by
    passing by (passing by) 16 March 2022 11: 31
    The Turks are also going to switch to rubles and yuan...and they are members of NATO.