Xi Jinping Calls for Oil Trade in Yuan at Gulf Summit in Riyadh

• Xi Jinping Calls for Oil Trade in Yuan at Gulf Summit in Riyadh
  by Maha El Dahan and Aziz El Yaakoubi, https://www.reuters.com/
  • Xi says summit with Gulf, Arab League is ‘milestone’
  • U.S. wary of growing Chinese influence in Arab world
  • Arabs defy U.S. pressure to limit China ties, cut off Russia
  • Summits showcase Saudi Crown Prince Mohammed as key leader

  RIYADH, Dec 9 (Reuters) – President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing’s goal to establish its currency internationally and weaken the U.S. dollar’s grip on world trade.
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  Xi was speaking in Saudi Arabia where Crown Prince Mohammed bin Salman hosted two “milestone” Arab summits with the Chinese leader which showcased the powerful prince’s regional heft as he courts partnerships beyond close historic ties with the West.
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