Yuan Replaces Dollar? Putin Pushes CCP Yuan for Russia’s Global Deals (PJ Media)
(Below are excerpts from an article originally written for and published on PJ Media.)
Are Russia and China already instituting the end of the U.S. dollar as the reserve global currency and the rise of China’s yuan as its replacement? Will the petrodollar soon be replaced by the petroyuan? That seemed to be what Russian President Vladimir Putin was speaking of during a meeting with Chinese Communist Party (CCP) dictator Xi Jinping.
In a clip circulating on Twitter, Putin announced that the Russian government supported the use of China’s yuan for deals between Russia and countries in Asia, Africa, and Latin America.
It’s no secret that the CCP’s ambition is to replace the dollar as the world’s reserve currency. For instance, in a February 2023 propaganda report from the CCP Foreign Ministry, called “US Hegemony and Its Perils,” the CCP specifically slammed an “international monetary system centered around the U.S. dollar…The hegemony of U.S. dollar is the main source of instability and uncertainty in the world economy.” Putin seems to agree.
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