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China aims for dollar-free oil trade

Yuan-denominated futures would allow crude exporters to dodge US sanctions

Exports from Russian oil fields like those in Bashkortostan could soon be traded in yuan to circumvent U.S. sanctions.   © Reuters

DENPASAR, Indonesia China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game changer for the industry.

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