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The ‘Petroyuan’ Will Not Replace the Petrodollar in Oil Trading

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The ‘Petroyuan’ Will Not Replace the Petrodollar in Oil Trading
Employees of Aramco oil company stand near a heavily damaged installation in Saudi Arabia's Khurais oil processing plant on Sept. 20, 2019. Fayez Nureldine/AFP via Getty Images
Antonio Graceffo
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News Analysis

Beijing has been pushing to replace the petrodollar with the “petroyuan” in its oil trade with Saudi Arabia, but it is unlikely to happen.

Antonio Graceffo
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
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