Analysis
Is China playing long game against dollar in Middle East?
Chinese spokesperson says "the internationalization of the [yuan] is a natural process, and the goal is not to replace the dollar or other international currencies."
The other China deal
Much attention has been rightly focused on China’s role in closing the deal between Saudi Arabia and Iran to reestablish diplomatic relations.
Another deal has gotten less attention, but may be just as telling in serving notice of China’s intentions in the region and beyond.
Last month China National Offshore Oil Corporation (CNOOC) and France's TotalEnergies conducted the first ever yuan-settled energy deal involving 65,000 tons of Emirati liquified natural gas, as Salim Essaid reports. Iraq and Saudi Arabia have also said they too are ready to deal in yuan, as Adam Lucente reports. Additionally, China and Brazil reached an accord this week to conduct their trade in yuan.
